AN ACT CONCERNING FIRST-TIME HOMEOWNERS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to provide income tax relief and other incentives for first-time homeowners who are thirty years old or younger to purchase a home in a distressed community, provided the price of such home falls within the allowable value for the community, as determined by the Connecticut Housing Finance Authority, and such homeowners (1) agree to remain in such home for at least five years, and (2) meet specified income levels.

Statement of Purpose:

To create incentives to attract young homeowners to our distressed communities.