An Act relative to a capital gains tax credit for first time homebuyers

HD 3296 creates a refundable tax credit for Massachusetts first-time homebuyers who use capital gains from selling investments to cover their down payment. The credit amount equals the lesser of the capital gains tax owed on the sale or the down payment amount, directly benefiting eligible buyers. To qualify, the capital funds must be liquidated within 60 days before the property transfer. This bill specifically affects Massachusetts residents who haven't owned a home in the past three years and use investment proceeds for a primary residence down payment.