LA HB1133

Creates the Dream Starter Program administered by the Louisiana Housing Corporation to provide forgivable loans to first-time and first-generation homebuyers for down payments, closing costs, mortgage insurance, and interest rate buy-downs

Establishes the First-Generation Homebuyer Assistance Fund in the state treasury, funded through legislative appropriations, grants, and donations, with interest earnings and unexpended balances remaining in the fund

Requires applicants to have no ownership interest in residential real estate within the previous three years, complete homebuyer education and financial counseling, and occupy the property as a principal residence

Prioritizes first-generation homebuyers, defined as first-time buyers who have never held sole ownership of residential real estate and meet additional criteria set by the corporation

Mandates annual reporting to the legislature by February 1st on program participation, geographic distribution, and loan performance, with safeguards including income verification and recapture provisions for noncompliance