OR SB1527 | 2024 | Regular Session
Status
Completed Legislative Action
Spectrum: Unknown
Status: Passed on March 28 2024 - 100% progression
Action: 2024-03-28 - Effective date, June 6, 2024.
Text: Latest bill text (Enrolled) [PDF]
Spectrum: Unknown
Status: Passed on March 28 2024 - 100% progression
Action: 2024-03-28 - Effective date, June 6, 2024.
Text: Latest bill text (Enrolled) [PDF]
Summary
Changes accounts for first-time home buyers, for accounts starting in 2025. Requires taxpayer to keep records. Changes rules for banks. Becomes law 91 days from sine die. (Flesch Readability Score: 62.1). Modifies provisions governing first-time home buyer savings accounts. Eliminates the requirement that a financial institution provide an annual certificate with account details to account holders. Allows an account holder to designate a proposed first-time home buyer as a beneficiary of the account. Specifies information that must be maintained by a taxpayer claiming a subtraction or exemption for accounts. Limits Department of Revenue rulemaking. Applies to first-time home buyer savings accounts created on or after January 1, 2025. Takes effect on the 91st day following adjournment sine die.
Title
Relating to first-time home buyer savings accounts; prescribing an effective date.
Sponsors
| No sponsor information available at this time. |
Roll Calls
2024-03-05 - House - House Third Reading (Y: 52 N: 0 NV: 0 Abs: 8) [PASS]
2024-03-04 - House - House Committee Do Pass the A-Eng bill (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-20 - Senate - Senate Third Reading (Y: 30 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-12 - Senate - Senate Committee Do pass with amendments. (Printed A-Eng.) (Y: 5 N: 0 NV: 0 Abs: 0) [PASS]
2024-03-04 - House - House Committee Do Pass the A-Eng bill (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-20 - Senate - Senate Third Reading (Y: 30 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-12 - Senate - Senate Committee Do pass with amendments. (Printed A-Eng.) (Y: 5 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-03-28 | Senate | Effective date, June 6, 2024. |
| 2024-03-28 | Senate | Chapter 53, 2024 Laws. |
| 2024-03-27 | Senate | Governor signed. |
| 2024-03-07 | House | Speaker signed. |
| 2024-03-07 | Senate | President signed. |
| 2024-03-05 | House | Rules suspended. Third reading. Carried by Breese-Iverson. Passed. Ayes, 52; Excused, 4--Boshart Davis, Bynum, Cramer, Owens; Excused for Business of the House, 4--Hieb, Scharf, Sosa, Speaker Rayfield. |
| 2024-03-05 | House | Second reading. |
| 2024-03-04 | House | Recommendation: Do pass. |
| 2024-03-04 | House | Work Session held. |
| 2024-02-29 | House | Public Hearing held. |
| 2024-02-21 | House | Referred to Revenue. |
| 2024-02-21 | House | First reading. Referred to Speaker's desk. |
| 2024-02-20 | Senate | Third reading. Carried by Meek. Passed. Ayes, 30. |
| 2024-02-19 | Senate | Second reading. |
| 2024-02-16 | Senate | Recommendation: Do pass with amendments. (Printed A-Eng.) |
| 2024-02-12 | Senate | Work Session held. |
| 2024-02-06 | Senate | Public Hearing held. |
| 2024-02-05 | Senate | Referred to Finance and Revenue. |
| 2024-02-05 | Senate | Introduction and first reading. Referred to President's desk. |
