AN ACT relating to a first-generation homebuyer trust fund program.

Summary

The bill sets up a revolving trust fund, run by the Kentucky Housing Corporation, to provide forgivable loans for down‑payment and related costs to eligible first‑generation homebuyers. It targets people who have never owned a home and meet specific family or homelessness criteria, with household income capped at 120% of the county median. Recipients must live in the home for three years and complete required counseling.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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