SB 747 VA

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Introduced

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.

• Todd E. Pillion Republican · primary

1. Jan 19, 2026 Presented and ordered printed 26105180D · upper
2. Jan 19, 2026 Referred to Committee on Finance and Appropriations · upper
3. Jan 26, 2026 Fiscal Impact statement From TAX (1/26/2026 11:04 pm) · upper
4. Jan 28, 2026 Continued to next session in Finance and Appropriations (10-Y 4-N) · upper

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Introduced · PDF
• Introduced · HTML