Virginia bills · 2026 Regular Session
Virginia SB 747
Income tax, state; first-time homebuyer tax credit.
- Introduced
- In committee
- Passed Senate
- Passed House
- To Governor
- Became law
Sponsors
- Todd E. Pillion (Republican)
Summary
Official abstract published by the Virginia legislature· SUMMARY AS 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.
Text versions
Roll-call votes
State vote data last updated Oct 15, 2026, 8:04 PM.
| Date | Vote | Result | Your legislators |
|---|---|---|---|
| Jan 28, 2026 Senate | Continued to next session in Finance and Appropriations | pass | Set your home in Virginia to see |
Actions
- Jan 28, 2026 · Senate
Continued to next session in Finance and Appropriations (10-Y 4-N) - Jan 26, 2026 · Senate
Fiscal Impact statement From TAX (1/26/2026 11:04 pm) - Jan 19, 2026 · Senate
Referred to Committee on Finance and Appropriations - Jan 19, 2026 · Senate
Presented and ordered printed 26105180D