# Virginia SB629: First-time home buyer savings plan; townhouses, principal limits.

Virginia SB629, First-time home buyer savings plan; townhouses, principal limits., is a 2026 Regular Session Senate bill sponsored by Kannan Srinivasan (Democratic); status in committee, last action 2026-02-10 (Continued to 2027 in Finance and Appropriations (15-Y 0-N)) (as of 2026-10-11).

- Canonical: https://policyrisk.com/state-bill/VA-SB629-2026
- As of: 2026-10-11
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia SB629
- State: Virginia
- Session: 2026 Regular Session
- Title: First-time home buyer savings plan; townhouses, principal limits.
- Status: in committee
- Chamber: Senate
- Introduced: 2026-01-14
- Last action: 2026-02-10, Continued to 2027 in Finance and Appropriations (15-Y 0-N)
- Sponsor: Kannan Srinivasan (Democratic)
- Cosponsors: 0
- Subjects: Finance and Appropriations
- Touches household money: no
- Roll calls: 2 (27 yes, 2 no in all)
- Economic provisions PRIA read: 0

## 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.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Kannan Srinivasan (Democratic), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-02-10 | Senate | Continued to 2027 in Finance and Appropriations | pass | 15 | 0 |   |
| 2026-02-04 | Senate | Reported from General Laws and Technology with amendments and rereferred to Finance and Appropriations | pass | 12 | 2 | 1 |

## Actions (8)

- 2026-02-10: Continued to 2027 in Finance and Appropriations (15-Y 0-N) (Senate)
- 2026-02-04: Senate committee amendments offered (Senate)
- 2026-02-04: Reported from General Laws and Technology with amendments and rereferred to Finance and Appropriations (12-Y 2-N 1-A) (Senate)
- 2026-01-28: Senate subcommittee amendments offered (Senate)
- 2026-01-28: Assigned GL&T sub: Housing (Senate)
- 2026-01-23: Fiscal Impact statement From TAX (1/23/2026 2:35 pm) (Senate)
- 2026-01-14: Referred to Committee on General Laws and Technology (Senate)
- 2026-01-14: Prefiled and ordered printed; Offered 01-14-2026 26105091D (Senate)

## Bill text

- Amendment, 2026-02-05: [HTML](https://lis.blob.core.windows.net/files/1128527.HTML)
- Amendment, 2026-02-04: [HTML](https://lis.blob.core.windows.net/files/1124778.HTML)
- Amendment, 2026-01-28: [HTML](https://lis.blob.core.windows.net/files/1100329.HTML)
- Introduced, 2026-01-14: [HTML](https://lis.blob.core.windows.net/files/1091540.HTML), [PDF](https://lis.blob.core.windows.net/files/1091539.PDF)

## Related bills

- HB5: Employment; paid sick leave, civil penalties. (signed)
- SB199: Employment; paid sick leave, civil penalties. (signed)
- HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with rental agreement. (signed)
- HB1393: Electric utilities; pilot program for energy assistance and weatherization for certain individuals. (signed)
- HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, termination by landlord. (signed)
- HB675: Protection of employees; coercion or threat based on immigration status, civil penalty. (signed)

## Sources
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1128527.HTML)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1124778.HTML)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1100329.HTML)
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1091540.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1091539.PDF)

## Related
- [HB5: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-HB5-2026)
- [SB199: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-SB199-2026)
- [HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with…](https://policyrisk.com/state-bill/VA-HB95-2026)
- [HB1393: Electric utilities; pilot program for energy assistance and weatherization for…](https://policyrisk.com/state-bill/VA-HB1393-2026)
- [HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, terminat…](https://policyrisk.com/state-bill/VA-HB834-2026)
- [HB675: Protection of employees; coercion or threat based on immigration status, civil…](https://policyrisk.com/state-bill/VA-HB675-2026)
- [Virginia bills](https://policyrisk.com/states/virginia/bills)
- [Virginia state hub](https://policyrisk.com/states/virginia)
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Source: PRIA, https://policyrisk.com/state-bill/VA-SB629-2026 (as of 2026-10-11).