SB 629·VA·senate
First-time home buyer savings plan; townhouses, principal limits.
Reported by CommitteeFiled Jan 14, 2026
Sponsor: Srinivasan
Latest Action
Continued from last session
Jul 21, 2026
Summary
The bill changes the definition of a single‑family residence in Virginia’s First‑Time Home Buyer Savings Plan to count townhouses. It also raises the maximum principal contribution from $50,000 to $100,000 and lifts the total account balance limit from $150,000 to $200,000. The changes are intended to help more first‑time buyers save for a home.
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