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Ohio REALTORS Commends Senate Approval of SB 257

Ohio REALTORS Commends Senate Approval of SB 257

Jun 28, 2024

By Anastasia Kotkovskaya, Ohio REALTORS Manager, Advocacy and Research

Ohio REALTORS® is proud to announce that Senate Bill (SB) 257, a legislative proposal to expand the Ohio Homebuyer Plus Program to active-duty service members stationed in the state, has unanimously passed the Ohio Senate. The bill’s extension of this helpful program to military personnel would recognize their service and support their long-term residence in our 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, making it an essential tool in the current real estate market.

Ohio REALTORS® offered proponent testimony to the Senate Community Revitalization Committee, strongly advocating for this important proposal. SB 257 will now move forward in the legislative process in the Ohio House.

The companion bill, HB 517, also passed the House Economic and Workforce Development Committee and now proceeds to the next step of House deliberation.

Read more about these bills here:

Ohio REALTORS Support Military Personnel, Advocate for Homebuyer Plus Expansion

Ohio REALTORS Supports Ohio Homebuyer Plus Expansion to Military Personnel 

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