KUWAIT CITY, May 31: MPs Muhammad Obaid Al-Rajhi, Mubarak Al-Ajmi, Salman Al-Azmi, Soud Bu Sleeb and Farz Al- Daihani submitted a bill on the establishment of a fund that will pay part or all of the debts of the owners of small and medium enterprises (SMEs). The bill stipulates that the beneficiarie
Credit: andrew mead via unsplash
New homeowners
A new assistance program for needy first-time homebuyers and a new tax incentive to encourage saving for a first home are the latest legislative efforts to help people purchase a house in one of the most expensive states for housing in the nation.
The Senate Community and Urban Affairs Committee on Thursday approved two bills to expand financial assistance to help people buy or rehab a first home. It also endorsed a measure that would provide a period of mortgage forbearance to some homeowners impacted by the coronavirus pandemic.
One bill (S-1762) would create the New Jersey First-Time Home Buyer Savings Account Program. Under this program, people with incomes of $175,000 or less and who have never owned a house would be able to establish a special savings account at a participating bank to deposit money toward a home purchase. A saver would get a 5% state income-tax credit for contributions of up to $15,000 a year to the account.
The prospects for legalized medical marijuana in Kansas are appearing increasingly dim, despite a House committee advancing a compromise proposal out of committee on Tuesday.
The bill would be somewhat more restrictive than a proposal considered in May in an attempt to win over the support of more conservative lawmakers, who want increased guardrails on a potential cannabis program.
But House and Senate leaders acknowledged it would be difficult for the bill to get across the finish line. Lawmakers are in the final days of the 2021 session, meaning marijuana advocates might be waiting until next year for their hopes to come to fruition.