Buying a first home just got a little easier in Missouri
thanks to efforts by Missouri REALTORS®. The Missouri First-Time Homebuyers
Savings Account Act passed through the legislature in Jefferson City last week.
Missouri REALTORS® issued a Call for Action in late April to
all its REALTOR® members to support the First-Time Homebuyer Savings Account,
which will allow potential homeowners to set aside savings dedicated toward the
purchase of their first homes, similar to a 529 college savings plan. Up to
$20,000 could be put into the account by a married couple filing jointly to
assist first time homeowners with their down payments.
Missouri REALTORS® issued a Call for Action in late April to
all its REALTOR® members, and your grassroots support helped put this issue
over the finish line.
“Thank you to all who responded to the Calls for Action
and/or traveled up to Jefferson City to shed light on the importance of this
bill,” Missouri Lobbyists Sam Licklider and Adam Davis said in a statement. “It
wouldn’t have passed without you.”
After
final approval, work will begin with regulators and banks to implement
the program in early 2019.
