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--- version:Edition 1
+++ version:Filed
@@ -1,17 +1,17 @@
 GENERAL ASSEMBLY OF NORTH CAROLINA
 SESSION 2025
-S 1
-SENATE BILL 789
+S D
+SENATE BILL DRS35342-MCa-246
 
 Short Title: Homes for Heroes. (Public)
 Sponsors: Senator Bradley (Primary Sponsor).
-Referred to: Rules and Operations of the Senate
-April 22, 2026
-*S789-v-1*
+Referred to:
+
+*DRS35342-MCa-246*
 A BILL TO BE ENTITLED 1
-AN ACT TO CREATE A H OMEBUYERS' ASSISTANCE PROGRAM WITH THE N ORTH 2
-CAROLINA HOUSING FINANCE AGENCY FOR FIRST-TIME HOMEBUYERS WHO 3
-WORK AS PUBLIC SERVA NTS AND TO ALLOW AN INCOME TAX CREDIT TO  4
+AN ACT TO CREATE A HOMEBUYERS ' ASSISTANCE PROGRAM WITH THE NORTH 2
+CAROLINA HOUSING FINANCE AGENCY FOR FIRST -TIME HOMEBUYERS WHO 3
+WORK AS PUBLIC SERVANTS AND TO ALLOW AN INCOME TAX CREDIT TO 4
 CERTAIN VOLUNTEER WORKERS FOR UNREIMBURSED BUSINESS EXPENSES. 5
 The General Assembly of North Carolina enacts: 6
  7
@@ -37,23 +37,27 @@
 public school unit, as that term is defined in G.S. 115C-5(7a). 27
 (8) Veteran. – As defined in G.S. 122C-465(3). 28
 SECTION 1.(b)  The Housing Finance Agency (Agency) shall establish a program 29
-operating under the Homeownership Assistance Fund, authorized under G.S.  122A-5.7, that 30
+operating under the Homeownership Assistance Fund, authorized under G.S. 122A-5.7, that 30
 provides assistance to first -time homebuyers that are employed full -time as public servants in 31
 this State. The Agency shall provide, in the form of reimbursement or direct payment, monies to 32
 be used for down payment assistance and to offset mortgage insurance premiums charged to 33
 program participants. First -time homebuyers shall be limited to the lesser of the sum of 34
 twenty-five thousand dollars ($25,000) or ten percent (10%) of the purchase price for down 35
 payment assistance, mortgage insurance premium assistance, and closing costs. The Agency may 36
+FILED SENATE
+Apr 21, 2026
+S.B. 789
+PRINCIPAL CLERK
 General Assembly Of North Carolina Session 2025
-Page 2  Senate Bill 789-First Edition
+Page 2  DRS35342-MCa-246
 provide for mortgage insurance payment assistance at least monthly, but for no longer than 60 1
 months for any single first-time homebuyer. 2
 SECTION 1.(c)  The Agency is hereby empowered to adopt, modify, or repeal rules 3
 and regulations governing the provision of down payment assistance and mortgage insurance 4
 assistance provided pursuant to this section. 5
 SECTION 1.(d)  There is appropriated from the General Fund to the Homeownership 6
-Assistance Fund, autho rized under G.S.  122A-5.7, the sum of two hundred million dollars 7
-($200,000,000) in recurring funds for the 2026 -2027 fiscal year to be used for the purposes 8
+Assistance Fund, authorized under G.S. 122A-5.7, the sum of two hundred million dollars 7
+($200,000,000) in recurring funds for the 202 6-2027 fiscal year to be used for the purposes 8
 provided in this act. 9
 SECTION 1.(e)  This Part becomes effective July 1, 2026. 10
  11
@@ -67,7 +71,7 @@
 by the department or squad. 19
 (b) Limitations. – The credit allowed under this section may not exceed the lesser of five 20
 thousand dollars ($5,000) or the amount of tax imposed by this Part for the taxable year reduced 21
-by the sum of all credits allowed, exce pt payments of tax made by or on behalf of the taxpayer. 22
+by the sum of all credits allowed, except payments of tax m ade by or on behalf of the taxpayer. 22
 A taxpayer may not claim a credit as both an eligible firefighter and as an eligible rescue squad 23
 worker in a single taxable year. 24
 (c) Definitions. – The following definitions apply in this section: 25