Realtors and homebuilders have joined forces at the State Capitol, asking lawmakers to allow contributions to First-Time Homebuyer Savings Accounts to be tax-deductible. Dave Siegel (see-GUL) with Housing First Minnesota says, “If grandma or grandpa wants to make a five-thousand-dollar commitment to their grandchild so they can buy a house, we could put that into that savings account, and then grandma and grandpa gets a tax deduction as well.” The provision was a victim of last year’s budget-bill veto by then-Governor Mark Dayton.
Chris Galler (GAL-er) with Minnesota Association of Realtors says, “Parents and grandparents want to help their kids get into a house. We want to make sure that we can help ’em get into a house, and the First Time Homebuyer Act will do that.”