# Virginia SB747: Income tax, state; first-time homebuyer tax credit.

Virginia SB747, Income tax, state; first-time homebuyer tax credit., is a 2027 Regular Session Senate bill sponsored by Todd E. Pillion (Republican); status in committee, last action 2026-07-21 (Continued from last session) (as of 2026-10-11).

- Canonical: https://policyrisk.com/state-bill/VA-SB747-2027
- As of: 2026-10-11
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia SB747
- State: Virginia
- Session: 2027 Regular Session
- Title: Income tax, state; first-time homebuyer tax credit.
- Status: in committee
- Chamber: Senate
- Introduced: 2026-01-19
- Last action: 2026-07-21, Continued from last session
- Sponsor: Todd E. Pillion (Republican)
- 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 the purchase of a principal residence by a first-time homebuyer, as such terms are defined in the bill, in an amount equal to $5,000. The bill requires that any credits be repaid if the principal residence is sold or no longer serves as the first-time homebuyer's principal residence within three years from the purchase date of such property.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Todd E. Pillion (Republican), Senate

## Actions (5)

- 2026-07-21: Continued from last session (Senate)
- 2026-01-28: Continued to 2027 in Finance and Appropriations (10-Y 4-N) (Senate)
- 2026-01-26: Fiscal Impact statement From TAX (1/26/2026 11:04 pm) (Senate)
- 2026-01-19: Referred to Committee on Finance and Appropriations (Senate)
- 2026-01-19: Presented and ordered printed 26105180D (Senate)

## Bill text

- Introduced, 2026-01-19: [HTML](https://lis.blob.core.windows.net/files/1230056.HTML), [PDF](https://lis.blob.core.windows.net/files/1230055.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/1230056.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1230055.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-SB747-2027 (as of 2026-10-11).