Virginia House Bill 2506

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 8 2025 - 25% progression
Action: 2025-02-04 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

Income tax; energy-efficient homes tax credits. Authorizes an eligible contractor, defined in the bill, or an eligible purchaser, also defined in the bill, to claim a nonrefundable income tax credit, during taxable years 2025 through 2029, in an amount equal to $2,000 per construction or purchase of a qualified new energy-efficient home and $4,000 per construction or purchase of a zero energy ready home, as those terms are defined in the bill. The bill clarifies that either an eligible contractor or an eligible purchaser, but not both, shall be able to claim the credit for any single qualified new energy-efficient or zero energy ready home, as applicable, and establishes a maximum credit amount that an eligible contractor may claim per taxable year of $500,000.

Income tax, state; energy-efficient homes tax credits.

Del. Chris Runion [R]

Date	Chamber	Action
2025-02-04	House	Left in Finance
2025-01-28	House	Subcommittee recommends incorporating into HB2086-Shin (Voice Vote)
2025-01-27	House	Impact statement from TAX (HB2506)
2025-01-24	House	Assigned Finance sub: Subcommittee #2
2025-01-08	House	Referred to Committee on Finance
2025-01-08	House	Prefiled and ordered printed; Offered 01-08-2025 25104389D

Type	Source
Summary	https://lis.virginia.gov/bill-details/20251/HB2506
Text	https://lis.virginia.gov/bill-details/20251/HB2506/text/HB2506
Supplement	https://lis.blob.core.windows.net/files/1029671.PDF