Jindal agrees to home ownership program

BATON ROUGE, La. (AP) - The governor is backing "Grants for Grads." Governor Bobby Jindal signed a bill to create a pilot program to help college graduates buy their first homes, as an incentive to keep them in the state. One hundred college graduates who work in Louisiana for five years after graduation will be eligible for a rebate on the state income taxes they paid during that time, for home down payments. The maximum rebate will be $10,000 per person. Graduates will have to work in-state for five years, then will have three years to apply. The 100 program participants will be chosen through a lottery by the Louisiana Housing Finance Agency. (© The Associated Press, All rights reserved.)