For taxable years beginning 1/1/2027: (1) increases the maximum annual and total allowable deduction for contributions to individual housing accounts for income tax deductions; and (2) increases the maximum allowable contributions for individual housing accounts to qualify for the income tax deductions. Repeals outdated language applicable to first‑time home purchases made before 1/1/1990, by persons with an individual housing account. (CD1)

Statutes affected:
SB2552: 235-5.5
SB2552 SD1: 235-5.5
SB2552 HD1: 235-5.5
SB2552 CD1: 235-5.5