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2024 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Williams Graves
First-Time Homebuyer Tax Credit (SB 555) (language only)

Item 0 #13s

Item 0 #13s

Revenues
Revenues

Language

Page 1, strike line 25 and insert:"

Official Revenue Estimate

$28,091,336,852

$29,616,852,918

$57,708,189,770

"



Explanation

(This amendment accompanies Senate Bill 555, a bill establishing an income tax credit for individuals who sell residential real property that is the taxpayer's primary residence and is located in the Commonwealth to a first-time homebuyer, as defined by the bill. This amendment assumes a general fund revenue reduction of $30.0 million each year as a placeholder. The actual revenue impact is to be determined.)