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
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. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/05/2009Prefiled and ordered printed; offered 01/14/09
01/05/2009Prefiled and ordered printed; offered 01/14/09 092831332
01/05/2009Referred to Committee on Finance
01/16/2009Impact statement from TAX (SB906)
02/04/2009Reported from Finance with substitute (15-Y 1-N) (see vote tally)
02/04/2009Committee substitute printed 092914212-S1
02/05/2009Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/06/2009Read second time
02/06/2009Reading of substitute waived
02/06/2009Committee substitute agreed to 092914212-S1
02/06/2009Reading of amendment waived
02/06/2009Amendment by Senator Stosch agreed to
02/06/2009Engrossed by Senate - committee substitute with amendment SB906ES1
02/06/2009Printed as engrossed 092914212-ES1
02/09/2009Read third time and passed Senate (38-Y 2-N) (see vote tally)
02/10/2009Impact statement from TAX (SB906ES1)
02/11/2009Placed on Calendar
02/11/2009Read first time
02/11/2009Referred to Committee on Finance
02/28/2009Left in Finance

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 2 minutes.

Duplicate Bills

The following bills are identical to this one: HB1808.