SB 2552: INCOME TAX; INDIVIDUAL HOUSING ACCOUNTS; PRE-TAX SAVINGS; MAXIMUM ANNUAL DEDUCTION; MAXIMUM TOTAL DEDUCTION; INCREASE

For taxable years beginning 1/1/2027: (1) increases the maximum annual and total allowable deduction for contributions to individual housing accounts for income tax deductions; and (2) increases the maximum allowable contributions for individual housing accounts to qualify for the income tax deductions.  Repeals outdated language applicable to first‑time home purchases made before 1/1/1990, by persons with an individual housing account.  (CD1)