SB 893
Permits a person to open a first-time home buyer savings account until January 1, 2030, and doubles the annual contribution limits on the accounts.
| Status | In Senate Committee (SFR) |
| Sponsors | Dick Anderson (Republican) (Chief) |
| Fiscal impact | May have fiscal impact, but no statement yet issued |
| Revenue impact | May have revenue impact, but no statement yet issued |
Bill Text
Doubles the annual contribution limits for first-time home buyer savings accounts and extends the program until January 1, 2030.
Overview#
Digest: Doubles the amount of money a person can put in a savings account each year for a first home purchase. (Flesch Readability Score: 72.3). Permits a person to open a first-time home buyer savings account until January 1, 2030, and doubles the annual contribution limits on the accounts. Permits a person other than the account holder to take a subtraction and exemption for contributions to the account if the account holder does not take the subtraction and exemption. Takes effect on the 91st day following adjournment sine die.
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-21 | S | Introduction and first reading. Referred to President's desk. |
| 2025-01-21 | S | Referred to Finance and Revenue. |
| 2025-06-27 | S | In committee upon adjournment. |