Virginia · 2025 Regular Session · Bill
SB 828: Income tax, state; housing opportunity tax credit, sunset extended.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 828 is a bill introduced in the Virginia Senate on December 31, 2024. According to its official title, it concerns: Income tax, state; housing opportunity tax credit, sunset extended. Primary sponsor: Mamie Locke (Democratic). Most recent recorded action (February 5, 2025): Left in Finance and Appropriations.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
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.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Mamie Locke | Primary sponsor | Democratic | Senate | 23 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Left in Finance and Appropriations
- Impact statement from TAX (SB828)
- Referred to Committee on Finance and Appropriations
- Prefiled and ordered printed; Offered 01-08-2025 25103999D