Income tax, state; homebuyer tax credit. (SB906)
Introduced By
Sen. Walter Stosch (R-Glen Allen) with support from co-patrons Del. Riley Ingram (R-Hopewell), Del. Jimmie Massie (R-Richmond), Del. John O'Bannon (R-Richmond), Del. Chris Peace (R-Mechanicsville), and Sen. John Watkins (R-Midlothian)
Progress
√ |
Introduced |
X |
Passed Committee |
☐ |
Passed House |
√ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax; homebuyer tax credit. Provides an income tax credit equal to $2,500 for single taxpayers and $5,000 for married taxpayers filing jointly for taxable years beginning on or after January 1, 2009, but before January 1, 2011, who purchase a principal residence during that period. Any tax credit claimed would be recaptured if the taxpayer disposes of the principal residence within two years after purchase. Amends § 58.1-339.12 (“Farm wineries and vineyards tax credit.”), of the Code of Virginia. View Full Text »
