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LB 151

Adopt the First-Time Homebuyers Savings Account Act and provide income tax adjustments

109th Legislature (2025-2026) Introduced by John Cavanaugh and 3 co-sponsors

Bill 8 SummaryMain Purpose and Intent:- Adopts the First-Time Homebuyer Savings Account Act and provides an income tax deduction for contributions.Key Provisions:- Allows for the c

Title printed. Carryover bill
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Bill Summary · LB 151

Bill 8 Summary

Main Purpose and Intent:
- Adopts the First-Time Homebuyer Savings Account Act and provides an income tax deduction for contributions.

Key Provisions:
- Allows for the creation of tax-advantaged savings accounts to cover eligible home costs for first-time homebuyers.
- Provides an income tax deduction for contributions made to these savings accounts.

Affected Parties:
- First-time homebuyers in Nebraska.
- Taxpayers making contributions to first-time homebuyer savings accounts.

Procedural/Timeline Aspects:
- Notice of hearing scheduled for March 13, 2025.

Compiled from official sources — confirm details with the bill’s official record.

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