Legislation

Title: Homestead Property Tax Credit - Calculation of Credit for Dwelling Purchased by First-Time Homebuyer
Sponsored by: Delegate R. Long
Status: In the House - Hearing 2/13 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Authorizing certain local governments to allow, by law, a first-time homebuyer in the State to calculate the homestead property tax credit for property that includes a newly purchased dwelling using a certain method; requiring that the credit for a newly purchased dwelling be calculated in a certain manner; providing that a certain homeowner may receive the larger of the homestead property tax credit amounts as calculated using certain methods; and applying the Act to all taxable years beginning after June 30, 2024.

Committees

Original:: Ways and Means Click to view Recorded Media

Committee Testimony

Witness List

Details

Introduced in a prior session as: HB0073 Session: 2023 Regular Session

Bill File Type: Pre-Filed

Effective Date(s): June 1, 2024

History

Legislation History
Chamber House Calendar Date 10/30/2023 Legislative Date 10/30/2023 Action Pre-filed Proceedings
Chamber House Calendar Date 1/10/2024 Legislative Date 1/10/2024 Action First Reading Ways and Means Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Homestead Property Tax Credit - Calculation of Credit for Dwelling Purchased by First-Time Homebuyer Proceedings
Chamber House Calendar Date 1/10/2024 Legislative Date 1/10/2024 Action Hearing 1/25 at 1:00 p.m. Proceedings
Chamber House Calendar Date 1/25/2024 Legislative Date 1/25/2024 Action Hearing canceled Proceedings
Chamber House Calendar Date 1/29/2024 Legislative Date 1/29/2024 Action Hearing 2/13 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	10/30/2023	10/30/2023	Pre-filed
House	1/10/2024	1/10/2024	First Reading Ways and Means
			Text - First - Homestead Property Tax Credit - Calculation of Credit for Dwelling Purchased by First-Time Homebuyer
House	1/10/2024	1/10/2024	Hearing 1/25 at 1:00 p.m.
House	1/25/2024	1/25/2024	Hearing canceled
House	1/29/2024	1/29/2024	Hearing 2/13 at 1:00 p.m.

File Code

Subjects

Statutes