SB674
Income Tax, state; first-time homebuyer tax credit.
Status:
In Senate
Latest Action:
Jan. 28, 2026
Senate: Continued to next session in Finance and Appropriations (12-Y 2-N)
Chief Patron:
Aaron Rouse (D)
Session:
2026 Regular Session
Summary
As Introduced. Individual income tax; first-time homebuyer tax credit.
Creates a one-time, nonrefundable individual income tax credit in taxable years 2026 through 2030 for expenses incurred by a first-time homebuyer for the purchase of direct ownership in residential real property in an amount equal to five percent of the purchase price value of such property detailed on the purchase ... (More) agreement up to $10,000. The bill requires that any credits be repaid in the event that the residential real property for which first-time homebuyer expenses were incurred and such credit was claimed is sold within three years from the purchase date of such property. (Less)-
Bill History
- 01/14/2026 - Senate: Prefiled and ordered printed; Offered 01-14-2026 26100702D
- 01/14/2026 - Senate: Referred to Committee on Finance and Appropriations
- 01/26/2026 - Senate: Fiscal Impact statement From TAX (1/26/2026 10:16 am)
- 01/28/2026 - Senate: Continued to next session in Finance and Appropriations (12-Y 2-N)
