Establishes an Iowa housing tax credit program, increases first-time homebuyer tax incentives, and creates a neighborhood renovation grant program.

The bill establishes an Iowa housing tax credit program, increases first-time homebuyer tax incentives, and creates a neighborhood renovation grant program. The Iowa finance authority will develop a system for the application, review, and authorization of Iowa housing tax credits. The bill increases the annual deduction limit for first-time homebuyer savings account contributions to $10,000 for married persons filing a joint return, and to $5,000 for any other account holder.

Establishes an Iowa housing tax credit program, increases first-time homebuyer tax incentives, and creates a neighborhood renovation grant program.

The bill establishes an Iowa housing tax credit program, increases first-time homebuyer tax incentives, and creates a neighborhood renovation grant program. The Iowa finance authority will develop a system for the application, review, and authorization of Iowa housing tax credits. The bill increases the annual deduction limit for first-time homebuyer savings account contributions to $10,000 for married persons filing a joint return, and to $5,000 for any other account holder.