Virginia Senate bill in Session 2026.
Status: introduced. Latest action: January 28, 2026.
Income tax, state; first-time homebuyer tax credit.
Individual income tax; first-time homebuyer tax credit. Creates a one-time, nonrefundable individual income tax credit in taxable years 2026 through 2030 for the purchase of a principal residence by a first-time homebuyer, as such terms are defined in the bill, in an amount equal to $5,000. The bill requires that any credits be repaid if the principal residence is sold or no longer serves as the first-time homebuyer's principal residence within three years from the purchase date of such property.
| Date | Event | Detail |
|---|---|---|
| 2026-01-19 | Introduced | Bill introduced |
| 2026-01-19 | Status | introduced |
| 2026-01-28 | Latest Action | S Continued to next session in Finance and Appropriations (10-Y 4-N) |