Relating to first-time homeownership; declaring an emergency.

Summary

The bill lets eligible first‑time buyers receive a loan equal to the lesser of their actual closing costs or 1% of the home price, with 6% simple interest. Loans are funded from the Senior Property Tax Deferral Revolving Account, become a lien on the home, and must be repaid when the property is sold or otherwise ceases to be the buyer’s homestead. The program is capped at 500 loans per year and runs for homes bought in 2026‑2028.

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

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