AI-generated summary, not yet reviewed by Better Utah staff. Please consult the bill text.

Utah's First-Time Homebuyer Assistance Program currently limits eligible homes to new construction or newly built but not-yet-occupied properties, with buyers able to receive up to $20,000 in assistance. This bill would expand the program to also cover existing (previously occupied) homes, but it would create two different funding levels: buyers of new construction could still receive up to $20,000, while buyers of existing homes could receive up to $10,000, with total program spending on existing-home purchases capped at $1,000,000. All other program rules — such as how the money can be used, repayment requirements if the home is sold or refinanced early, and the maximum home purchase price — would remain the same.