Bill > H1012

This bill has two key provisions: 1. It establishes a homebuyers' assistance program within the North Carolina Housing Finance Agency that provides up to $25,000 or 10% of the home purchase price in down payment and mortgage insurance premium assistance to first-time homebuyers who are employed full-time as public servants, including active duty military members, veterans, law enforcement officers, teachers, firefighters, and emergency medical services personnel. 2. It creates a new state income tax credit of up to $5,000 for unpaid volunteer firefighters and rescue squad workers to offset unreimbursed business expenses related to their rescue work, provided they attend at least 36 hours of department/squad drills and training during the taxable year. The bill appropriates $200 million in recurring funds to the Homeownership Assistance Fund to support the down payment and mortgage assistance program, and the tax credit provisions apply for taxable years beginning on or after January 1, 2024.