AN ACT relating to establishing a first-generation homebuyer trust fund and program.

Create new sections of KRS Chapter 198A to define terms; establish the first-generation homebuyer trust fund, establish eligible activities and use of trust fund; require Kentucky Housing Corporation to submit annual reports to the Legislative Research Commission.

Introduced: February 19, 2025

Last action: February 27, 2025

To Appropriations & Revenue (H)

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This bill would create a new trust fund in Kentucky specifically to help first-generation homebuyers, meaning people whose parents or guardians did not own a home. It would set up a program through the Kentucky Housing Corporation to provide financial support for eligible activities related to purchasing a home, and would require the Corporation to report annually on the program's progress. Who it may affect: Kentuckians who are looking to buy their first home and whose families have not previously owned one.

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