VirginiaFirst-time Homebuyer Grant Program; established.
What it does
First-time Homebuyer Grant Program. Establishes a First-time Homebuyer Grant Program for the purpose of assisting first-time homebuyers with first-time homebuyer expenses, as those terms are defined in the bill. The bill provides that the Department of Housing and Community Development shall award eligible first-time homebuyers a grant in an amount equal to five percent of such expenses incurred during a calendar year, not to exceed $10,000.
More detail
Any grant awarded pursuant to the Program shall be repaid to the Commonwealth if the property for which expenses were incurred is sold within three years from the purchase date, unless the sale is made following a natural disaster or other act of God.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Feb 11Passed by indefinitely in Finance and Appropriations (12-Y 1-N 2-A)Latest
- Vote recorded Passed by indefinitely in Finance and Appropriations (12-Y 1-N 2-A). Result: pass.Upper
- Feb 5Referred to Committee on Finance and AppropriationsMinor
- Feb 5Constitutional reading dispensed (on 1st reading)
- Feb 4Read third time and passed House (52-Y 47-N)Passed House
- Vote recorded Read third time and passed House (52-Y 47-N). Result: pass.Lower
- Feb 3Engrossed by House - committee substituteMajor
- Feb 3Appropriations Substitute agreed to
- Feb 3Read second timeMinor
- Feb 2Read first timeMinor
- Jan 31Committee substitute printed 25106520D-H1Major
- Vote recorded Reported from Appropriations with substitute (12-Y 10-N). Result: pass.Lower
- Jan 31Reported from Appropriations with substitute (12-Y 10-N)Minor
- Jan 29Assigned Approps sub: Commerce Agriculture & Natural ResourcesMinor
- Vote recorded Reported from Finance and rereferred to Appropriations (11-Y 10-N). Result: pass.Lower
- Jan 29Reported from Finance and referred to Appropriations (11-Y 10-N)Minor
- Jan 27Subcommittee recommends reporting and referring to Appropriations (5-Y 3-N)
- Vote recorded Subcommittee recommends reporting and rereferred to Appropriations (5-Y 3-N). Result: pass.Lower
- Jan 25Assigned Finance sub: Subcommittee #3Minor
- Jan 24Assigned Finance sub: Subcommittee #2Minor
- Jan 24Impact statement from TAX (HB1598)
- Jan 3Referred to Committee on FinanceMinor
- Jan 3Prefiled and ordered printed; Offered 01-13-2025 25102857DIntroduced
- Feb 11Passed by indefinitely in Finance and Appropriations (12-Y 1-N 2-A)Latest