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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.
Cite this article: FindLaw.com - Alabama Code Title 24. Housing § 24-11-2 - last updated January 01, 2019 | https://codes.findlaw.com/al/title-24-housing/al-code-sect-24-11-2/
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