HB3152 - Home Buyer Savings Account Act

• Establishes tax-incentivized savings accounts for first-time and second-chance home buyers (those who haven't owned a home in 10 years) to save for down payments and closing costs on Illinois single-family residences.

• Allows individual account holders to deduct up to $5,000 annually (joint filers up to $10,000) in contributions, with earnings excluded from taxable income, subject to a 10-year maximum period and $25,000 aggregate limit for individuals ($50,000 for joint accounts).

• Imposes a 10% penalty on withdrawals used for purposes other than eligible home purchase costs, with exceptions for death, disability, unemployment exhaustion, or bankruptcy; allows penalty-free transfers between accounts within 60 days.

• Requires cities with populations over 25,000 to allow middle housing types (duplexes, triplexes, quadplexes, cottage clusters, townhouses) in residential zones, and cities with 10,000-25,000 residents to permit duplexes; establishes accessory dwelling unit regulations.

• Creates an Electric Vehicle Oriented (EVO) Housing Pilot Program providing grants up to 10% of land costs and 15% of construction costs for housing developments within 10 miles of REV Illinois Projects, with applications accepted through December 31, 2026.