The general assembly declares that the purpose for allowing taxable income to be reduced by earnings from a first-time home buyer savings account is to encourage first-time home ownership through incentivizing saving for a down payment and closing costs because of the significant financial and civic benefits home ownership provides for our state.L. 2016: Entire part added, (HB 16-1467), ch. 321, p. 1302, § 2, effective August 10.
Colorado Legal Code