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A 4098

Establishes the first-generation homebuyer assistance program

2025 Regular Session Introduced by Brian Cunningham

Creates a first-generation homebuyer assistance program to help households with no adult homeowner access financing and purchase a home.

REFERRED TO HOUSING
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WeVote Research Nonpartisan
Bill Summary · A 4098

Summary: A 4098 — Establishes the first-generation homebuyer assistance program

Overview

A 4098 is a bill introduced on January 31, 2025, with the primary purpose of creating a new program to assist first-generation homebuyers. The bill has been referred to the Housing committee. Brian Cunningham is listed as the primary sponsor. A related bill from a prior session is A 8126.

Purpose and Intent

  • Establishes a first-generation homebuyer assistance program intended to support households where no adult previously owned a home.
  • The goal is to facilitate homeownership for eligible first-generation buyers, expanding access to housing opportunities.

Key Provisions (as stated or implied by the bill’s title)

  • Creates a new program dedicated to first-generation homebuyer assistance.
  • Provides the framework to administer this assistance (specific program mechanics—such as eligibility criteria, funding sources, benefit types, caps, repayment terms, and administration—are to be defined within the bill’s text or through implementing regulations).
  • Likely to include procedures for application, eligibility verification, and oversight, though exact details are not provided in the available summary.

Note: The available information confirms the bill’s establishment of the program but does not include the full substantive provisions. The exact eligibility rules, funding amounts, benefit structure (grants, down payment assistance, loans, or a combination), repayment terms, and oversight mechanisms would be specified in the full text of the bill or subsequent amendments.

Administration and Implementation

  • The measure is currently in the referral stage to the Housing committee, indicating that the committee would review, amend, and advance the bill.
  • Details on administrative agency, funding sources, and implementation timeline are not provided in the available information.

Affected Parties and Impact

  • Primary beneficiaries: first-generation homebuyers seeking to purchase a home.
  • Potentially affected entities: housing agencies, lenders participating in the program, and service providers offering homebuyer counseling or related support.
  • The economic and housing market impact will depend on the program’s funding level and eligibility criteria once specified.

Legislative History and Related Legislation

  • Introduced: January 31, 2025.
  • Legislative Action: Referred to Housing (noted twice on the same date in the record).
  • Related Bill: A 8126 (prior-session), which may share themes or program concepts.

Next Steps for Readers

  • Monitor subsequent committee actions in the Housing committee for amendments, fiscal notes, and a potential floor vote.
  • Review the full bill text when available to understand specific eligibility criteria, funding, program administration, reporting requirements, and sunset provisions.

This summary reflects the information available from the bill’s current status and stated purpose.

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

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