OKLAHOMA CITY, Okla. – May 1, 2019 – Oklahoma will now provide tax-free first-time homebuyer savings accounts, becoming the 10th state to make such a move after Gov. Kevin Stitt signed bill SB 961 into law last Friday. The bill passed unanimously in the Oklahoma House and by a vote of 39-4 in the Senate.
Montana was the first state to offer such savings accounts in 1998. Since then, Alabama, Colorado, Iowa, Minnesota, Mississippi, Missouri, Oregon, Virginia, and Wyoming, in addition to Oklahoma, have followed suit.
The Oklahoma Association of Realtors® (OAR), which led the support for the bill, used resources from the National Association of Realtors and Advocacy Everywhere to create an issues mobilization campaign to ensure the legislation would pass.
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