First-Time Homebuyers Savings Accounts
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This amendment proposes establishing a First-Time Homebuyers Savings Account program in Massachusetts. The program would provide eligible first-time homebuyers with a matching contribution to their savings accounts, up to a certain limit. Funds for the program would be drawn from the state’s appropriations for the fiscal year 2027, specifically within the budget bill.
Key provisions
- Creates a matching contribution program for first-time homebuyers.
- Provides a matching contribution to savings accounts up to a specified amount.
- Funds the program through the state's general appropriations.
- Defines eligibility criteria for first-time homebuyers.
Who is affected
- First-time homebuyers in Massachusetts
- The Massachusetts Housing Finance Agency
- The Commonwealth’s General Fund
Fiscal impact
The amendment allocates funds from the fiscal year 2027 appropriations for the program, impacting the state budget.
Bill text
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Sponsors
Official sponsors from legislative records.
6 on record
Primary sponsor
Cosponsors
James B. Eldridge
Arguments
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