Ralph Mantica President at Ohio REALTORS | Official website
Ralph Mantica President at Ohio REALTORS | Official website
Ohio REALTORS has announced the unanimous passage of Senate Bill (SB) 257 by the Ohio Senate. The bill proposes to extend the Ohio Homebuyer Plus Program to active-duty service members stationed in the state, recognizing their service and supporting their long-term residence in local communities.
Initiated in January 2024, the Ohio Homebuyer Plus Program offers tax-favored savings accounts with interest rates up to 2.5% higher than traditional accounts. Ohio residents can deduct contributions up to $5,000 for single filers and $10,000 for joint filers from state income taxes.
Ohio REALTORS provided proponent testimony to the Senate Community Revitalization Committee, advocating strongly for this proposal. SB 257 will now advance in the legislative process within the Ohio House.
The companion bill, HB 517, has also passed through the House Economic and Workforce Development Committee and will proceed to further deliberation in the House.
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