Extends the date by which an account holder must open a first-time home buyer savings account in order to claim a subtraction for contributed funds or an exemption for earnings.

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Last action: 2025-06-27
Official status: In House Committee
Effective date: Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2025-06-27 House
In committee upon adjournment.
2025-06-13 House
Recommendation: Do pass and be referred to Tax Expenditures.
2025-06-13 House
Referred to Tax Expenditures by order of Speaker.
2025-06-10 House
Work Session held.
2025-05-06 House
Public Hearing held.
2025-03-13 House
Referred to Revenue.
2025-03-11 House
First reading. Referred to Speaker's desk.
2025-03-10 Senate
Third reading. Carried by Meek. Passed. Ayes, 29; Excused, 1--Thatcher.
2025-03-06 Senate
Recommendation: Do pass.
2025-03-06 Senate
Second reading.
2025-03-05 Senate
Work Session held.
2025-02-03 Senate
Public Hearing held.
2025-01-17 Senate
Referred to Finance and Revenue.
2025-01-13 Senate
Introduction and first reading. Referred to President's desk.

Official Summary Text

Digest: The Act extends date by which one must open first-time home buyer savings account in order to claim tax benefits. (Flesch Readability Score: 63.8).
Extends the date by which an account holder must open a first-time home buyer savings account in order to claim a subtraction for contributed funds or an exemption for earnings. Extends the sunset for the use of the subtraction and exemption.
Relating to: Relating to first-time home buyer savings accounts.
Current location: In House Committee