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SC H4708

Bill

Official Source

Status

Introduced

1/13/2026

Primary Sponsor

Courtney Waters

Click for details

Origin

House of Representatives

126th General Assembly

AI Summary

  • Creates a refundable income tax credit for first-time homebuyers equal to 1% of the home's purchase price, capped at $3,000
  • Credit must be claimed in equal installments over three consecutive tax years, starting with the year of purchase
  • Requires the taxpayer to have never owned a home in any jurisdiction and never previously claimed this credit
  • Provides exceptions for displaced homemakers, single parents who previously owned a home with a spouse, and those who owned non-permanent or code-noncompliant structures
  • Takes effect upon Governor's approval and applies to qualifying home purchases made after 2025

Legislative Description

First-time homebuyers credit

Last Action

Referred to Committee on Ways and Means

1/13/2026

Committee Referrals

Ways and Means12/16/2025

Full Bill Text

No bill text available