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LBO presents mortgage- and homebuyer-related evaluation reports; several reports deferred to July
Summary
Legislative Budget Office staff presented evaluation reports on a first-time homebuyer account interest provision and the home mortgage interest deduction; the commission deferred several Mortgage Registration Tax and DEED transfer evaluations to the July meeting due to time constraints.
Legislative Budget Office economists and evaluators presented a set of tax-expenditure evaluation reports at the June 17 Tax Expenditure Review Commission meeting.
Vlad Fleurimond, economist with the LBO, presented the Interest on Contributions to A First Time Homebuyer Account evaluation report (1.4.14). Fleurimond and Annie Lemieux, a program evaluator with the LBO, also presented the Home Mortgage Interest tax-expenditure evaluation (1.3.05). Commissioners asked questions and discussed the analyses after each presentation.
Co-Chair Greg Davids said the commission would defer presentation of the Mortgage Registration Tax evaluation reports for agricultural loans (9.1.01) and government housing (9.1.02), and the DEED transfer items (10.1.01–10.1.06), until the July meeting because of time constraints. Director Christian Larson also noted that going forward evaluation responses would be collected via an online survey instead of a fillable PDF.
The commission did not take final votes tied directly to the mortgage-interest or first-time homebuyer presentations at this meeting; those presentations were received and will inform future evaluation work and any subsequent recommendations.
