Income tax, state; increases current cap of military benefits that may be subtracted.
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What it does
Official summary
Individual income tax; subtractions; military benefits. Incrementally increases the current cap of $40,000 of military benefits that may be subtracted from Virginia taxable income such that by taxable year 2030 and for all taxable years thereafter, the total amount of military benefits may be subtracted from such income.
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More on this bill
Where it stands
Introduced
2Passed House
3Passed Senate
4To Governor
5Became Law
Looking ahead
No hearings or votes scheduled.
History
2026
Feb 18Left in Committee AppropriationsLatest
Jan 29Referred to Committee on AppropriationsMinor
Jan 28Referred to Committee on AppropriationsMinor
Vote recorded Reported from Finance with substitute. Result: pass.Lower
Vote recorded Reported from Finance. Result: pass.Lower
Jan 28Committee substitute printed 26106178D-H1Major
Jan 28Reported from Finance with substitute and referred to Appropriations (22-Y 0-N)Minor
Jan 28Reconsidered by Finance (Voice Vote)
Jan 28Reported from Finance and referred to Appropriations (18-Y 0-N)Minor
Jan 26Subcommittee recommends reporting with substitute and referring to Appropriations (10-Y 0-N)Major
Vote recorded Subcommittee recommends reporting with substitute. Result: pass.Lower
Jan 25House subcommittee offered
Jan 18Fiscal Impact statement From TAX (1/18/2026 5:15 pm)
Jan 4Referred to Committee on FinanceMinor
Jan 4Prefiled and ordered printed; Offered 01-14-2026 26102129DIntroduced