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HB 195 Kentucky House · 2025 Regular Session

AN ACT relating to tax incentives for first-time home buyers.

Summary
Create a new section of KRS Chapter 141 to define terms; establish a tax deduction for contributions made to an eligible savings account by a first-time home buyer and allow an exclusion from income for any interest earned from an eligible savings account of a first-time home buyer effective for taxable years beginning on or after January 1, 2026, but before January 1, 2036; require the Department of Revenue to report to the Legislative Research Commission and the Interim Joint Committee on Appropriations and Revenue; amend KRS 141.019 and 131.190 to conform.
Issues: ✓ Budget & TaxesSupports Budget & TaxesProvides tax deductions and interest exclusion for first-time home buyers, reducing tax burden on middle-income households - classic tax relief policy.95% confidence ✓ HousingSupports HousingTax deductions and interest exclusions for first-time home buyers reduce purchase costs, directly advancing affordable housing access.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 10, 2025 Last action Feb 4, 2025
Floor votes

How they voted

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Full legislative history

Actions timeline

Total actions
3
Key actions
0
Committee
2
Feb 4, 2025
Committee
to Appropriations & Revenue (H)
lower
Jan 10, 2025
Committee
to Committee on Committees (H)
lower
Jan 10, 2025
Introduced
introduced in House
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.