HB 1607: Georgia First-Time Homebuyer's Savings Account Act; enact

Summary

A BILL to be entitled an Act to amend Title 7 of the Official Code of Georgia Annotated, relating to banking and finance, so as to provide for the creation of first-time homebuyer savings accounts; to provide for contributions by account holders to accounts; to provide for transfer of beneficiaries; to provide for annual reporting; to provide for certain exemptions from certain requirements for financial institutions; to provide for tax deductions; to provide for tax deduction limits; to provide for unqualified withdrawal penalties and exceptions; to permit the Department of Revenue to impose penalties for fraudulent activity; to require the Department of Revenue to create certain forms; to provide for a short title; to provide for purpose; to provide for definitions; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.

Latest recorded action

No action recorded yet.

Mar 27, 2026

This is the latest action supplied by the source, not the full legislative history.

Track bills like this one

Mandate alerts you when a bill that matters to your organization moves, and explains what it means.