The state House of Representatives has voted to give first-time homebuyers a tax deduction for money saved toward the purchase.
House Bill 1981 was advanced to the Senate on Monday by a vote of 189-1.
The proposal would allow first-time homebuyers to open special saving accounts and claim state deductions for savings toward the purchase of a single-family home.
People who have not owned or purchased a home within the three years leading up to the purchase could also qualify.
Account holders would be permitted to contribute up to $50,000 over a 10-year period. Annual contributions would be capped at $5,000 for single taxpayers and $10,000 for those filing a joint return.