VirginiaHB1832026 Regular SessionHouse

First-time home buyer savings plan; townhouses, principal limits.

Sponsored By: David A. Reid (Democratic)

In Committee

Summary

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. The bill defines first-time home buyer, and includes that term in the definition of qualified beneficiary.

Finance and Appropriations

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • David A. Reid

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 134 • No: 7

Senate vote 2/25/2026

Continued to 2027 in Finance and Appropriations

Yes: 15 • No: 0

House vote 2/3/2026

Read third time and passed House

Yes: 96 • No: 2

House vote 1/28/2026

Reported from Appropriations with substitute

Yes: 16 • No: 5

House vote 1/21/2026

Subcommittee recommends reporting with substitute

Yes: 7 • No: 0

Actions Timeline

  1. Continued to 2027 in Finance and Appropriations (15-Y 0-N)

    2/25/2026Senate
  2. Fiscal Impact statement From TAX (2/17/2026 6:47 pm)

    2/17/2026House
  3. Referred to Committee on Finance and Appropriations

    2/4/2026Senate
  4. Constitutional reading dispensed (on 1st reading)

    2/4/2026Senate
  5. Read third time and passed House (96-Y 2-N 0-A)

    2/3/2026House
  6. Engrossed by House - committee substitute

    2/2/2026House
  7. committee substitute agreed to

    2/2/2026House
  8. Read second time

    2/2/2026House
  9. Read first time

    1/30/2026House
  10. Committee substitute printed 26105761D-H1

    1/28/2026House
  11. House committee offered

    1/28/2026House
  12. Reported from Appropriations with substitute (16-Y 5-N)

    1/28/2026House
  13. House subcommittee offered

    1/21/2026House
  14. Subcommittee recommends reporting with substitute

    1/21/2026House
  15. Fiscal Impact statement From TAX (1/17/2026 11:43 am)

    1/17/2026House
  16. Assigned HAPP sub: Commerce Agriculture & Natural Resources

    1/15/2026House
  17. Referred to Committee on Appropriations

    1/7/2026House
  18. Prefiled and ordered printed; Offered 01-14-2026 26101205D

    1/7/2026House

Bill Text

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