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Senate president updates committee on first‑time homebuyer loan program, cites prior SB 240
Summary
Senate President Adams told the subcommittee the 2023 program authorized under 'Senate Bill 240' has helped nearly 3,000 families buy first homes using repayable loans of up to $20,000; he described a new appropriation request in the presentation to expand the program.
Senate President Adams presented an update on the Legislature’s first‑time homebuyers assistance program, saying the 2023 measure (identified in the presentation as “Senate Bill 240”) allocated $50,000,000 and enabled first‑time buyers to use up to $20,000 per home as a repayable loan for down payments, rate buydowns, closing costs or other purchase needs. “Housing affordability continues to be probably the number 1 item for our…
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