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Committee reviews VHFA first-generation homebuyer and down payment provisions; asks technical follow-up
Summary
The committee reviewed proposed amendments to Title 32 to extend and expand first-generation homebuyer tax credits and to continue a down-payment assistance allocation through fiscal 2031; staff will check aggregate limits and technical drafting with VHFA and return with clarifications.
Members of the House Committee on General and Housing reviewed proposed Title 32 amendments that would give the Vermont Housing Finance Agency additional authority to issue tax-credit-funded grants for first-generation homebuyers and to extend a down-payment assistance authorization into fiscal year 2031.
Cameron Lloyd, Legislative Council, described draft language that would allow VHFA to issue up to $250,000 in tax credits per year and indicated the draft mirrors existing down-payment assistance language while extending the program beyond its current sunset.…
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