SECTION 1 (TITLE):
This act shall be known as the First-Time Home Buyers Act.

SECTION 2 (PURPOSE):
To establish a revolving loan fund to assist first time buyers in financing a home purchase

SECTION 3 (PROVISIONS):

(a) The STATE Department of Housing [or comparable state entity] shall administer a home buyer assistance program that:

(b) Loan use and requirements

(c) Capitalization of revolving loan funds

(d) Regulations