Alabama § 24-11-2 Legislative Declaration

Alabama Statutes

§ 24-11-2 — Legislative Declaration

Alabama·Title 24 Housing·Ch. 11 Alabama First-Time and Second Chance Home Buyer Savings Account Act

The Legislature recognizes that saving for the purchase of a first home is very challenging in today’s economy. The Legislature declares that first-time and second chance home buyer savings accounts provide an opportunity for Alabama residents to save funds for home ownership. The first-time and second chance home buyer savings account program is intended to enable first-time and second chance home buyers in Alabama to plan for and utilize a tax incentive to save funds for a down payment and closing costs for the purchase of a first home in Alabama.

Free access — add to your briefcase to read the full text and ask questions with AI

The Legislature recognizes that saving for the purchase of a first home is very challenging in today’s economy. The Legislature declares that first-time and second chance home buyer savings accounts provide an opportunity for Alabama residents to save funds for home ownership. The first-time and second chance home buyer savings account program is intended to enable first-time and second chance home buyers in Alabama to plan for and utilize a tax incentive to save funds for a down payment and closing costs for the purchase of a first home in Alabama.

Alabama § 24-11-2 (Legislative Declaration) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.