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2022 Code of Alabama
Title 24 - Housing.
Chapter 11 - Alabama First-Time and Second Chance Home Buyer Savings Account Act.
Section 24-11-2 - Legislative Declaration.

Universal Citation: AL Code § 24-11-2 (2022)
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Section 24-11-2

THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.

Legislative Declaration. 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.

(Act 2018-467, §2.)

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