Bill Title: Provides for personal income taxpayers who are first-time home buyers a credit for interest paid on a purchase money loan/mortgage of 25% of the annual interest paid over the life of the loan; allows for carryover where the credit exceeds the tax due; provides for recapture if the property ceases to qualify during the first five years after acquisition; creates the mortgage credit certificate credit against personal income tax.

Spectrum: Moderate Partisan Bill (Republican 7-1)

Status: (Introduced - Dead) 2013-01-24 - referred to ways and means [A03276 Detail]

Text: Latest bill text (Introduced) [HTML]

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