An Act relative to a capital gains tax credit for first time homebuyers
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes a capital gains tax credit for first-time homebuyers in Massachusetts. The credit would be designed to help individuals purchasing their first home by reducing the tax liability associated with selling a previous property. It aims to incentivize homeownership and potentially boost the housing market. The specifics of the credit amount and eligibility requirements would be determined during the legislative process.
Key provisions
- Provides a capital gains tax credit to first-time homebuyers.
- The credit would be applied to the sale of a previous property.
- Eligibility would be based on being a first-time homebuyer.
- Details regarding the credit amount and application process are yet to be finalized.
Who is affected
- First-time homebuyers
- Massachusetts residents
- Real estate investors
- Taxpayers
Bill text
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Sponsors
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2 on record
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Cosponsor
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