VirginiaFirst-time home buyer savings plan; townhouses, principal limits.
What it does
First-time home buyer savings plan; townhouses; principal limits. Includes townhouses in the definition of single-family residence for purposes of the First-Time Home Buyer Savings Plan Act. The bill also increases (i) the aggregate amount of principal that can be contributed to a first-time home buyer savings account from $50,000 to $100,000 and (ii) the limit on the amount of principal and interest or other income on the principal that may be retained in such an account from $150,000 to $200,000.
More detail
The bill defines first-time home buyer, and includes that term in the definition of qualified beneficiary.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jul 21Continued from last sessionLatest
- Feb 25Continued to next session in Finance and Appropriations (15-Y 0-N)
- Feb 17Fiscal Impact statement From TAX (2/17/2026 6:47 pm)
- Feb 4Referred to Committee on Finance and AppropriationsMinor
- Feb 4Constitutional reading dispensed (on 1st reading)
- Feb 3Read third time and passed House (96-Y 2-N 0-A)Passed House
- Feb 2Engrossed by House - committee substituteMajor
- Feb 2committee substitute agreed toMajor
- Feb 2Read second timeMinor
- Jan 30Read first timeMinor
- Jan 28Committee substitute printed 26105761D-H1Major
- Jan 28House committee offered
- Jan 28Reported from Appropriations with substitute (16-Y 5-N)Minor
- Jan 21Subcommittee recommends reporting with substituteMajor
- Jan 21House subcommittee offered
- Jan 17Fiscal Impact statement From TAX (1/17/2026 11:43 am)
- Jan 15Assigned HAPP sub: Commerce Agriculture & Natural ResourcesMinor
- Jan 7Referred to Committee on AppropriationsMinor
- Jan 7Prefiled and ordered printed; Offered 01-14-2026 26101205DIntroduced