# Virginia SB674: Income tax, state; first-time homebuyer tax credit.

Virginia SB674, Income tax, state; first-time homebuyer tax credit., is a 2026 Regular Session Senate bill sponsored by Aaron R. Rouse (Democratic); status in committee, last action 2026-01-28 (Continued to 2027 in Finance and Appropriations (12-Y 2-N)) (as of 2026-10-11).

- Canonical: https://policyrisk.com/state-bill/VA-SB674-2026
- As of: 2026-10-11
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia SB674
- State: Virginia
- Session: 2026 Regular Session
- Title: Income tax, state; first-time homebuyer tax credit.
- Status: in committee
- Chamber: Senate
- Introduced: 2026-01-14
- Last action: 2026-01-28, Continued to 2027 in Finance and Appropriations (12-Y 2-N)
- Sponsor: Aaron R. Rouse (Democratic)
- Cosponsors: 0
- Subjects: Finance and Appropriations
- Touches household money: no
- Roll calls: 1 (12 yes, 2 no in all)
- Economic provisions PRIA read: 0

## Summary

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 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.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Aaron R. Rouse (Democratic), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-01-28 | Senate | Continued to 2027 in Finance and Appropriations | pass | 12 | 2 |   |

## Actions (4)

- 2026-01-28: Continued to 2027 in Finance and Appropriations (12-Y 2-N) (Senate)
- 2026-01-26: Fiscal Impact statement From TAX (1/26/2026 10:16 am) (Senate)
- 2026-01-14: Referred to Committee on Finance and Appropriations (Senate)
- 2026-01-14: Prefiled and ordered printed; Offered 01-14-2026 26100702D (Senate)

## Bill text

- Introduced, 2026-01-14: [HTML](https://lis.blob.core.windows.net/files/1091766.HTML), [PDF](https://lis.blob.core.windows.net/files/1091765.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
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1091766.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1091765.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)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/VA-SB674-2026 (as of 2026-10-11).