Income Tax, state; first-time homebuyer tax credit.

Summary

The bill gives individual taxpayers who buy a home for the first time a credit equal to 5% of the purchase price, capped at $10,000, for taxable years 2026 through 2030. The credit is nonrefundable and must be repaid if the home is sold within three years of purchase. It is intended to encourage homeownership by lowering the net cost of buying a house.

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

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