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LANSING – State Rep. Cam Cavitt, R- Cheboygan, testified on Thursday in front of the House Regulatory Reform Committee on his plan to make homeownership more accessible for first-time homeowners across Michigan.
"Supporting access to affordable housing is a clear priority," said Cavitt. "For too many working families in Northeast Michigan and throughout the state, the dream of owning a home has become increasingly difficult as housing costs continue to rise."
House Bills 5967 and 5973, introduced by Cavitt, would protect Michigan's First-Time Home Buyer Savings Program, allowing families to continue using the valuable tool to build savings. The program enables first-time homebuyers to set aside money for a down payment through tax-advantaged savings accounts. These bills would ensure eligible Michiganders can continue benefiting from state tax incentives as they work toward purchasing a home.
"These bills are a meaningful investment in expanding homeownership opportunities across our state," Cavitt said. "They are common-sense measures to help aspiring families. Preserving this savings program gives prospective homebuyers a tool to prepare for one of the biggest financial decisions of their lives. We can help more working families achieve homeownership without adding new layers of government."