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SB555

First-time homebuyer; creates a tax credit for taxable years 2024 through 2028.

Status:
Killed

Chief Patron:
Angelia Williams Graves (D)

Session:
2024 Regular Session

Summary

As Introduced. First-time homebuyer tax credit.

Creates a tax credit for taxable years 2024 through 2028 for individuals or married couples filing jointly who sell residential real property that is the taxpayer's primary residence and is located in the Commonwealth to a first-time homebuyer, as defined by the bill. Such credit will be equal to two percent of the sales price of the property, not to exceed $5,000. (Less)

  • Bill History

  • 01/10/2024 - Senate: Prefiled and ordered printed; offered 01/10/24 24101832D
  • 01/10/2024 - Senate: Referred to Committee on Finance and Appropriations
  • 01/29/2024 - Senate: Impact statement from TAX (SB555)
  • 02/06/2024 - Senate: Senate subcommittee amendments and substitutes offered
  • 02/07/2024 - Senate: Passed by indefinitely in Finance and Appropriations with letter (15-Y 0-N)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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