First-time homebuyer savings accounts; provide restrictions of use and requirements for maintaining such accounts; provisions

A BILL to be entitled an Act to amend Chapter 1 of Title 7 of the O.C.G.A., relating to financial institutions, so as to provide for definitions; to provide for the establishment of first-time homebuyer savings accounts; to provide for restrictions of use and requirements for maintaining such accounts; to authorize the charging of service fees for such accounts; to provide for penalties for providing false information; to provide for rule-making authority; to amend Code Section 48-7-27 of the Official Code of Georgia Annotated, relating to computation of taxable net income for Georgia income tax purposes, so as to provide for income tax exemptions; to provide for penalties for unauthorized withdrawals; to provide for definitions; to provide for related matters; to repeal conflicting laws; and for other purposes.