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2024 SESSION

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SB 555 First-time homebuyer; creates a tax credit for taxable years 2024 through 2028.

Introduced by: Angelia Williams Graves | all patrons    ...    notes | add to my profiles

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.

FULL TEXT

• 01/10/24  Senate: Prefiled and ordered printed; offered 01/10/24 24101832D  pdf | impact statement

AMENDMENTS

• Senate subcommittee amendments and substitutes offered

HISTORY

• 01/10/24  Senate: Prefiled and ordered printed; offered 01/10/24 24101832D
• 01/10/24  Senate: Referred to Committee on Finance and Appropriations
• 02/07/24  Senate: Passed by indefinitely in Finance and Appropriations with letter (15-Y 0-N)