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First-time Homebuyer Grant Program. Establishes a First-time Homebuyer Grant Program for the purpose of assisting first-time homebuyers with first-time homebuyer expenses, as those terms are defined in the bill. The bill provides that the Department of Housing and Community Development shall award eligible first-time homebuyers a grant in an amount equal to five percent of such expenses incurred during a calendar year, not to exceed $10,000. Any grant awarded pursuant to the Program shall be repaid to the Commonwealth if the property for which expenses were incurred is sold within three years from the purchase date, unless the sale is made following a natural disaster or other act of God.
Introduced
Jan 3, 2025
Last Action
Feb 11, 2025
Session
VA 2025
Sponsors
1 primary · 37 co
Passed by indefinitely in Finance and Appropriations (12-Y 1-N 2-A)
Constitutional reading dispensed (on 1st reading)
Referred to Committee on Finance and Appropriations
Read third time and passed House (52-Y 47-N)
Engrossed by House - committee substitute
Appropriations Substitute agreed to
Read second time
Read first time
Committee substitute printed 25106520D-H1
Reported from Appropriations with substitute (12-Y 10-N)
Assigned Approps sub: Commerce Agriculture & Natural Resources
Reported from Finance and referred to Appropriations (11-Y 10-N)
Subcommittee recommends reporting and referring to Appropriations (5-Y 3-N)
Assigned Finance sub: Subcommittee #3
Impact statement from TAX (HB1598)
Assigned Finance sub: Subcommittee #2
Referred to Committee on Finance
Prefiled and ordered printed; Offered 01-13-2025 25102857D
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Passed by indefinitely in Finance and Appropriations (12-Y 1-N 2-A)
Joshua G. Cole
Elizabeth B. Bennett-Parker
Nadarius E. Clark
Kelly K. Convirs-Fowler
Michael B. Feggans
Debra D. Gardner
C.E. Cliff Hayes, Jr.
Rozia A. Henson, Jr.
Phil M. Hernandez
Charniele L. Herring
Patrick A. Hope
Michael J. Jones
Amy J. Laufer
Michelle Lopes Maldonado
Adele Y. McClure
Candi Mundon King
Marcia S. "Cia" Price
Atoosa R. Reaser
David A. Reid
Holly M. Seibold
JJ Singh
Richard C. "Rip" Sullivan, Jr.
Vivian E. Watts
Rodney T. Willett
Ghazala F. Hashmi
Mamie E. Locke
Aaron R. Rouse
Saddam Azlan Salim
Angelia Williams Graves