# Indiana HB 1403: First time home buyer savings program.

Indiana HB 1403, First time home buyer savings program., is a Second Regular Session 124th General Assembly (2026) House bill sponsored by no sponsor on record; status failed, last action 2026-01-08 (First reading: referred to Committee on Ways and Means) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IN-HB1403-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Indiana HB 1403
- State: Indiana
- Session: Second Regular Session 124th General Assembly (2026)
- Title: First time home buyer savings program.
- Status: failed
- Chamber: House
- Introduced: 2026-01-08
- Last action: 2026-01-08, First reading: referred to Committee on Ways and Means
- Sponsors: no sponsor on record
- Cosponsors: 0
- Subjects: ways and means
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Establishes the first time home buyer savings program (program) for the purpose of assisting first time home buyers who seek to open a first time home buyer savings account (account) at a financial institution to save money for the purchase of a single family residence. Requires the Indiana housing and community development authority to administer the program, to prepare and supervise the issuance of public information concerning the program, and to prescribe various forms for use by financial institutions that choose to offer accounts. Specifies that: (1) money in an account (including all earnings or interest on an account) is exempt from taxation in Indiana; and (2) withdrawals from an account used for a down payment and allowable closing costs for the purchase of a single family residence; are exempt from state adjusted gross income taxation. Creates a state adjusted gross income tax credit for contributions to an account (credit) in an amount equal to the lesser of: (1) 20% multiplied by the amount of the total contributions made to the account during a taxable year; or (2) $5,000. Requires repayment of all or a part of the credit in a taxable year in which the taxpayer withdraws funds from an account for purposes other than payment of a down payment and allowable closing costs.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- (none)

## Actions (3)

- 2026-01-08: First reading: referred to Committee on Ways and Means (House)
- 2026-01-08: Authored by Representative Dant Chesser (House)
- 2026-01-08: Coauthored by Representatives Hamilton, Lawson (House)

## Bill text

- Introduced House Bill (H): [PDF](https://api.iga.in.gov/2026/bills/HB1403/versions/HB1403.01.INTR?format=pdf)

## Related bills

- HB 1406: Tax and fiscal matters. (signed)
- HB 1266: Department of education and education matters. (signed)
- HB 1277: Health and human services matters. (signed)
- HB 1210: Department of local government finance. (signed)
- HB 1249: Various criminal law matters. (signed)
- HB 1200: Bureau of motor vehicles. (signed)

## Sources
- [Introduced House Bill (H) (PDF)](https://api.iga.in.gov/2026/bills/HB1403/versions/HB1403.01.INTR?format=pdf)

## Related
- [HB 1406: Tax and fiscal matters.](https://policyrisk.com/state-bill/IN-HB1406-2026)
- [HB 1266: Department of education and education matters.](https://policyrisk.com/state-bill/IN-HB1266-2026)
- [HB 1277: Health and human services matters.](https://policyrisk.com/state-bill/IN-HB1277-2026)
- [HB 1210: Department of local government finance.](https://policyrisk.com/state-bill/IN-HB1210-2026)
- [HB 1249: Various criminal law matters.](https://policyrisk.com/state-bill/IN-HB1249-2026)
- [HB 1200: Bureau of motor vehicles.](https://policyrisk.com/state-bill/IN-HB1200-2026)
- [Indiana bills](https://policyrisk.com/states/indiana/bills)
- [Indiana state hub](https://policyrisk.com/states/indiana)
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Source: PRIA, https://policyrisk.com/state-bill/IN-HB1403-2026 (as of 2026-11-01).