Ala. Code § 24-11-2
Current through the 2024 Regular Session.
The Legislature recognizes that saving for the purchase of a first home is very challenging in today's economy. The Legislature declares that first-time and second chance home buyer savings accounts provide an opportunity for Alabama residents to save funds for home ownership. The first-time and second chance home buyer savings account program is intended to enable first-time and second chance home buyers in Alabama to plan for and utilize a tax incentive to save funds for a down payment and closing costs for the purchase of a first home in Alabama.
Ala. Code § 24-11-2 (1975)