Virginia Senate Bill 828

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on December 31 2024 - 25% progression
Action: 2025-02-05 - Left in Finance and Appropriations
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Introduced) [HTML]

Income tax; housing opportunity tax credit; sunset extended. Extends the housing opportunity tax credit sunset date from taxable year 2025 to taxable year 2030. The bill also increases the aggregate credit cap across all calendar years from $255 million to $1.505 billion and imposes an annual aggregate credit cap of $250 million in each calendar year between 2026 and 2030. The bill also provides that of the $250 million in credits authorized per calendar year from 2026 through 2030, 33 percent shall be reserved for qualified projects located in a geographic area within the Balance of State Pool, defined in the bill. This bill is a recommendation of the Virginia Housing Commission.

Income tax, state; housing opportunity tax credit, sunset extended.

Sen. Mamie Locke [D]

Date	Chamber	Action
2025-02-05	Senate	Left in Finance and Appropriations
2025-01-15	Senate	Impact statement from TAX (SB828)
2024-12-31	Senate	Referred to Committee on Finance and Appropriations
2024-12-31	Senate	Prefiled and ordered printed; Offered 01-08-2025 25103999D

Type	Source
Summary	https://lis.virginia.gov/bill-details/20251/SB828
Text	https://lis.virginia.gov/bill-details/20251/SB828/text/SB828
Supplement	https://lis.blob.core.windows.net/files/1020546.PDF