AN ACT ESTABLISHING A FIRST-TIME HOME BUYERS TAX CREDIT AGAINST THE PERSONAL INCOME TAX.

SB 100 establishes a tax credit for first-time home buyers who meet specific income and employment criteria. It provides a credit equal to 3.5% of the home’s purchase price or $10,000 (whichever is less) against personal income tax for filers with: - Income under $100,000 (single) or $200,000 (married filing jointly), - Full-time employment for at least nine months in the taxable year, - And status as an "asset limited, income constrained, employed household" per United Way’s annual report. The credit directly affects low-to-moderate-income first-time buyers meeting these requirements, reducing their state income tax burden.