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Key Votes

A 1678 - Establishing a New Jersey Homebuyer Tax Credit Program - Key Vote

New Jersey Key Votes

Stages

Family

Issues

Stage Details

Legislation - Veto Override Failed (House) (42-32) - (Key vote)

Title: Establishing a New Jersey Homebuyer Tax Credit Program

Vote Smart's Synopsis:

Vote to override a veto of a bill that establishes a homebuyer tax credit for qualifying contracts of sale executed on homes within 365 days following enactment.

Highlights:
-Specifies that the tax credit shall be an amount equal to 5 percent of the price paid for the purchase or $15,000, whichever is less (Sec. 1). -Specifies that the tax credit only applies if the home is intended to be used as the taxpayer's principle residence for 36 consecutive months after the home purchase (Sec. 1). -Limits the amount of all credits allowed under this bill to no more than $100 million, of which up to $75 million shall be allowed for purchases of new homes and up to $25 million shall be allowed for purchases of previously occupied homes (Sec. 1).
Legislation - Vetoed (Executive) -

Title: Establishing a New Jersey Homebuyer Tax Credit Program

Legislation - Bill Passed (Senate) (38-0) -
Legislation - Bill Passed (House) (67-8) - (Key vote)

Title: Establishing a New Jersey Homebuyer Tax Credit Program

Vote Smart's Synopsis:

Vote to pass a bill that establishes a homebuyer tax credit for qualifying contracts of sale executed on homes within 365 days following enactment.

Highlights:
-Specifies that the tax credit shall be an amount equal to 5 percent of the price paid for the purchase or $15,000, whichever is less (Sec. 1). -Specifies that the tax credit only applies if the home is intended to be used as the taxpayer's principle residence for 36 consecutive months after the home purchase (Sec. 1). -Limits the amount of all credits allowed under this bill to no more than $100 million, of which up to $75 million shall be allowed for purchases of new homes and up to $25 million shall be allowed for purchases of previously occupied homes (Sec. 1).
Legislation - Introduced (House) -

Title: Establishing a New Jersey Homebuyer Tax Credit Program

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