Assemblyman Mike Norris (R,I-Lockport) was pleased to support legislation that allows more New Yorkers the opportunity to realize the American Dream by becoming a first time homebuyer.

“As I meet constituents, I hear more and more about the struggles families have keeping their loved ones close by, particularly younger New Yorkers who are enticed by career opportunities out of state after graduating,” said Norris. “As someone who made the active choice to stay in Western New York after I graduated to build my adult life in my hometown, I certainly understand this struggle and want to do everything I can to restore our local and regional economy so there are better career opportunities, reduce the cost for students to get a degree or technical training and help younger New Yorkers achieve the American Dream. This bill helps accomplish that.”

Not only does homeownership help more New Yorkers build a future in state, but it also helps revitalize communities as studies have shown that those who own their own home take greater pride in the home, as well as the surrounding neighborhood. The legislation would allow those interested in purchasing a first home the ability to save up to $10,000 in a tax-free savings account, similar to existing 521 tax-free education savings accounts. The bill was voted on and passed by the Assembly this week and is now before the state Senate for their consideration.