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.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 10Continued to next session in Finance and Appropriations (15-Y 0-N)Latest
- Vote recorded Continued to next session in Finance and Appropriations. Result: pass.Upper
- Feb 4Reported from General Laws and Technology with amendments and rereferred to Finance and Appropriations (12-Y 2-N 1-A)Minor
- Vote recorded Reported from General Laws and Technology with amendments. Result: pass.Upper
- Feb 4Senate committee amendments offered
- Jan 28Senate subcommittee amendments offered
- Jan 28Assigned GL&T sub: HousingMinor
- Jan 23Fiscal Impact statement From TAX (1/23/2026 2:35 pm)
- Jan 14Referred to Committee on General Laws and TechnologyMinor
- Jan 14Prefiled and ordered printed; Offered 01-14-2026 26105091DIntroduced
- Feb 10Continued to next session in Finance and Appropriations (15-Y 0-N)Latest