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

Virginia SB674, Income tax, state; first-time homebuyer tax credit., is a 2027 Regular Session Senate bill sponsored by Aaron R. Rouse (Democratic); status in committee, last action 2026-07-21 (Continued from last session) (as of 2026-10-11).

- Canonical: https://policyrisk.com/state-bill/VA-SB674-2027
- 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: 2027 Regular Session
- Title: Income tax, state; first-time homebuyer tax credit.
- Status: in committee
- Chamber: Senate
- Introduced: 2026-01-14
- Last action: 2026-07-21, Continued from last session
- Sponsor: Aaron R. Rouse (Democratic)
- Cosponsors: 0
- Subjects: Finance and Appropriations
- Touches household money: no
- 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

## Actions (5)

- 2026-07-21: Continued from last session (Senate)
- 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/1230152.HTML), [PDF](https://lis.blob.core.windows.net/files/1230151.PDF)

## Related bills

- SB844: Licensed clinical psychologists; prescriptive authority; report. (in committee)
- HB1535: Individuals with developmental or intellectual disabilities; admissibility of statements. (introduced)
- HB1534: School service providers; deletion of student and family personal information. (introduced)
- SB843: Data centers; state permitting, local approval, moratorium, sunset. (in committee)
- SB842: High school student athletes; eligibility, enrollment. (in committee)
- SB840: Corrections, Director of the Department of; placement of inmates, Red Onion State Prison. (in committee)

## Sources
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1230152.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1230151.PDF)

## Related
- [SB844: Licensed clinical psychologists; prescriptive authority; report.](https://policyrisk.com/state-bill/VA-SB844-2027)
- [HB1535: Individuals with developmental or intellectual disabilities; admissibility of s…](https://policyrisk.com/state-bill/VA-HB1535-2027)
- [HB1534: School service providers; deletion of student and family personal information.](https://policyrisk.com/state-bill/VA-HB1534-2027)
- [SB843: Data centers; state permitting, local approval, moratorium, sunset.](https://policyrisk.com/state-bill/VA-SB843-2027)
- [SB842: High school student athletes; eligibility, enrollment.](https://policyrisk.com/state-bill/VA-SB842-2027)
- [SB840: Corrections, Director of the Department of; placement of inmates, Red Onion Sta…](https://policyrisk.com/state-bill/VA-SB840-2027)
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- [Virginia state hub](https://policyrisk.com/states/virginia)
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Source: PRIA, https://policyrisk.com/state-bill/VA-SB674-2027 (as of 2026-10-11).