Digest: Changes accounts for first-time home buyers, for accounts starting in 2025. Requires taxpayer to keep records. Changes rules for banks. Becomes law 91 days from sine die. (Flesch Readability Score: 62.1). Modifies provisions governing first-time home buyer savings accounts. Eliminates the requirement that a financial institution provide an annual certificate with account details to account holders. Allows an account holder to designate a proposed first-time home buyer as a beneficiary of the account. Specifies information that must be maintained by a taxpayer claiming a subtraction or exemption for accounts. Limits Department of Revenue rulemaking. Applies to first-time home buyer savings accounts created on or after January 1, 2025. Takes effect on the 91st day following adjournment sine die.
Effective date, June 6, 2024.
Chapter 53, 2024 Laws.
Governor signed.
Speaker signed.
President signed.
Rules suspended. Third reading. Carried by Breese-Iverson. Passed.
Second reading.
Recommendation: Do pass.
Work Session held.
Public Hearing held.
Referred to Revenue.
First reading. Referred to Speaker's desk.
Third reading. Carried by Meek. Passed.
Second reading.
Recommendation: Do pass with amendments. (Printed A-Eng.)
Work Session held.
Public Hearing held.
Referred to Finance and Revenue.
Introduction and first reading. Referred to President's desk.
| Bill Text Versions | Format |
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| A-Engrossed | |
| Enrolled | |
| Introduced | |
| Senate Amendments to Introduced | |
| SFR Amendment -1 |
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| No related documents. |
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