VirginiaSB6292026 Regular SessionSenate

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

Sponsored By: Kannan Srinivasan (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.

Finance and Appropriations

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Kannan Srinivasan

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 27 • No: 2

Senate vote 2/10/2026

Continued to 2027 in Finance and Appropriations

Yes: 15 • No: 0

Senate vote 2/4/2026

Reported from General Laws and Technology with amendments and rereferred to Finance and Appropriations

Yes: 12 • No: 2 • Other: 1

Actions Timeline

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

    2/10/2026Senate
  2. Senate committee amendments offered

    2/4/2026Senate
  3. Reported from General Laws and Technology with amendments and rereferred to Finance and Appropriations (12-Y 2-N 1-A)

    2/4/2026Senate
  4. Senate subcommittee amendments offered

    1/28/2026Senate
  5. Assigned GL&T sub: Housing

    1/28/2026Senate
  6. Fiscal Impact statement From TAX (1/23/2026 2:35 pm)

    1/23/2026Senate
  7. Referred to Committee on General Laws and Technology

    1/14/2026Senate
  8. Prefiled and ordered printed; Offered 01-14-2026 26105091D

    1/14/2026Senate

Bill Text

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