HB580
Log in to followAN ACT relating to a first-generation homebuyer trust fund program.
Create new sections of KRS Chapter 198A to define terms; establish a revolving account to be known as the first-generation homebuyer trust fund; establish eligible activities and uses of the trust fund; require Kentucky Housing Corporation to operate a forgivable loan program for eligible first-generation homebuyers applicants, administer the fund, and submit annual reports to the Legislative Research Commission.
Introduced: February 6, 2026
Last action: February 13, 2026
Plain-language summary
This bill would create a new trust fund in Kentucky specifically to help first-generation homebuyers, meaning people whose families have not previously owned a home. It would require the Kentucky Housing Corporation to run a forgivable loan program using money from this fund to assist eligible applicants. The fund would operate as a revolving account, and the Kentucky Housing Corporation would report on its activities to the state legislature each year. Who it may affect: Kentuckians who are looking to buy their first home and whose parents or guardians did not own a home.
Legislative History
Primary Sponsor
