| VA | SB564 | Pass | Individual income tax subtraction; income earned in certain localities. Directs the Department of Taxation and the Commission on Local Government to assess the need for income tax relief in double distressed localities in the Commonwealth that have e...
[Detail][Text][Discuss] | 2024-04-05
Governor: Approved by Governor-Chapter 599 (effective 7/1/24) |
| VA | HB1015 | Pass | Agricultural best management practices tax credit; agricultural equipment purchase tax credit; sunset date. Extends from January 1, 2025, to January 1, 2030, the sunset date of the individual and corporate agricultural best management practices incom...
[Detail][Text][Discuss] | 2024-03-28
Governor: Acts of Assembly Chapter text (CHAP0212) |
| VA | SB298 | Pass | Tax credit for purchase of conservation tillage and precision agricultural application equipment; sunset date. Extends the sunset date of the individual and corporate tax credit for purchase of conservation tillage and precision agricultural applicat...
[Detail][Text][Discuss] | 2024-03-28
Governor: Acts of Assembly Chapter text (CHAP0234) |
| VA | SB297 | Pass | Agricultural best management practices tax credit; sunset date. Extends the sunset date of the individual and corporate agricultural best management practices tax credit from January 1, 2025, to January 1, 2030.
[Detail][Text][Discuss] | 2024-03-28
Governor: Acts of Assembly Chapter text (CHAP0233) |
| VA | HB261 | Engross
50% | Income tax; rolling conformity. Provides that when Virginia does not conform on a rolling basis to federal tax laws due to any changes in a single act of Congress with an impact of more than $15 million on revenues in the year in which the amendment ...
[Detail][Text][Discuss] | 2024-02-27
To Senate Finance and Appropriations Committee |
| VA | HB197 | Intro
25% | Tax credit; solar energy equipment. Establishes a nonrefundable income tax credit for taxable years 2024 through 2028 for individuals who incur allowable expenses, as defined in the bill, for the purchase and installation of solar energy equipment, a...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB165 | Intro
25% | Income tax deduction; union dues. Provides an income tax deduction beginning in taxable year 2024 for the amount paid by an individual for union dues for participation in a labor organization.
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB483 | Intro
25% | Income tax exclusion; veteran student loan forgiveness. Eliminates the sunset date and expands eligibility for the income tax exclusion for any income received by a disabled veteran of the Armed Forces of the United States from the discharge of feder...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB473 | Intro
25% | Income tax; interest; employer retention credit. Provides authority to the Tax Commissioner to waive interest on taxpayers that received a federal employer retention tax credit. Such waiver shall only be permissible if the taxpayer was eligible for a...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB491 | Intro
25% | Virginia taxable income; subtractions; volunteer firefighters and volunteer emergency medical services personnel. Provides a state income tax subtraction of $2,000 per taxable year for bona fide volunteers who perform qualifying services, defined in ...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB541 | Intro
25% | Income tax; deduction for qualified business income. Establishes, beginning with tax year 2024, an individual income tax deduction in an amount equal to 50 percent of certain federal qualified business income deductions, excluding qualified real esta...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB518 | Intro
25% | Income tax; Foreign Service retirement benefits subtraction. Establishes for certain individuals receiving Foreign Service retirement benefits an income tax subtraction of such benefits up to $5,000 in taxable year 2024, up to $10,000 in taxable year...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB396 | Intro
25% | Birth of dependent household member tax deduction. Allows an income tax deduction for the birth of a dependent member of a taxpayer's household that occurs during the taxable year, beginning in taxable year 2024. The bill provides that the deduction ...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB1407 | Intro
25% | Income tax subtraction; military retirement benefits; uniformed services. Expands the definition of "military benefits" to include an income tax subtraction of retirement income received for service in the uniformed services of the United States, whi...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB1137 | Intro
25% | Virginia income tax subtractions; disability income. Allows an individual who claims an income tax subtraction for disability income to also claim an income tax deduction for taxpayers age 65 and older.
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB1159 | Intro
25% | Individual income tax; distribution of revenues; local school construction. Requires distribution of one percent of the individual income tax revenues collected from residents of a locality to be distributed to that locality. The bill requires such f...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB1327 | Intro
25% | Income tax subtractions; Virginia National Guard military pay. Creates an income tax subtraction for military pay received by an individual for active service in the Virginia National Guard during either (i) an out-of-state deployment or (ii) a state...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB1394 | Intro
25% | Income tax subtraction; unlawful discrimination. Provides an income tax subtraction for any amount received by a claimant for noneconomic damages as a result of unlawful discrimination, defined in the bill, for taxable years beginning on and after Ja...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB1447 | Intro
25% | Pass-through entity tax; penalty waiver. Directs the Department of Taxation to waive penalties imposed on any pass-through entity paying the pass-through entity income tax for taxable years beginning on and after January 1, 2021, but before January 1...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB1527 | Intro
25% | Electric vehicle charging equipment tax credit. Provides an income tax credit for the costs of installing electric vehicle charging equipment at a gas station. The credit shall extend for five years once claimed. For the first year of the credit, the...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB1275 | Intro
25% | Home instruction and private school tax credit. Creates an individual, nonrefundable income tax credit for taxable years 2024 through 2028 for amounts paid by the parent or legal guardian of a child for the child's home instruction expenses or tuitio...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB1234 | Intro
25% | Eligible educator income tax deduction; home school instruction income tax credit. Increases from $500 to $1,500 for tax years 2024 through 2026 the amount of income tax deduction certain eligible educators may deduct for qualifying expenses. The b...
[Detail][Text][Discuss] | 2024-02-13
To House Finance Committee |
| VA | HB88 | Intro
25% | Virginia taxable income; standard deduction. Removes the sunset on elevated standard deduction amounts for single individuals and married persons that was scheduled to expire for taxable years beginning on and after January 1, 2026.
[Detail][Text][Discuss] | 2024-02-07
To House Finance Committee |
| VA | HB240 | Intro
25% | Income tax; contributions to Virginia College Savings Plan Income tax; contributions to Virginia College Savings Plan accounts; report. Increases the maximum individual income tax deduction for amounts paid or contributed to a prepaid tuition contrac...
[Detail][Text][Discuss] | 2024-02-07
To House Finance Committee |
| VA | HB621 | Intro
25% | Earned income tax credit. Allows eligible low-income taxpayers to claim a refundable income tax credit equal to 20 percent of the federal earned income tax credit claimed that year by the taxpayer for the same taxable year. The bill also states that ...
[Detail][Text][Discuss] | 2024-02-07
To House Finance Committee |
| VA | SB183 | Intro
25% | Earned income tax credit. Allows eligible low-income taxpayers to claim a refundable income tax credit equal to 20 percent of the federal earned income tax credit claimed that year by the taxpayer for the same taxable year. The bill also states that ...
[Detail][Text][Discuss] | 2024-02-07
To Senate Finance and Appropriations Committee |
| VA | SB459 | Intro
25% | Income tax; rolling conformity. Provides that when Virginia does not conform on a rolling basis to federal tax laws due to any changes in a single act of Congress with an impact of more than $15 million on revenues in the year in which the amendment ...
[Detail][Text][Discuss] | 2024-02-07
To Senate Finance and Appropriations Committee |
| VA | HB865 | Intro
25% | Imposition of income tax. Establishes a new income tax bracket beginning on and after January 1, 2024, that taxes income in excess of $1 million at a rate of 10 percent. The bill provides that 50 percent of revenues generated by the new tax bracket w...
[Detail][Text][Discuss] | 2024-02-07
To House Finance Committee |
| VA | HB1292 | Intro
25% | Income tax subtraction; professional firefighter pension. Establishes an income tax subtraction for up to $20,000 of firefighter benefits in taxable year 2024, up to $30,000 in taxable year 2025, and up to $40,000 in taxable year 2026 and each year t...
[Detail][Text][Discuss] | 2024-02-07
To House Finance Committee |
| VA | HB887 | Intro
25% | Income taxes. Creates a new income tax bracket for taxable years beginning on and after January 1, 2024, for income in excess of $600,000, which is to be taxed at seven percent. The bill also creates two new tax credits: a child and dependent care ta...
[Detail][Text][Discuss] | 2024-02-07
To House Finance Committee |
| VA | HB1078 | Intro
25% | Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2024 through 2028 for expenses incurred by an individual in caring for an eligible family member, defined in the bill, who requires assistance with one or more a...
[Detail][Text][Discuss] | 2024-02-07
To House Finance Committee |
| VA | SB419 | Intro
25% | Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2024 through 2028 for expenses incurred by an individual in caring for an eligible family member, defined in the bill, who requires assistance with one or more a...
[Detail][Text][Discuss] | 2024-02-07
To Senate Finance and Appropriations Committee |
| VA | HB1281 | Intro
25% | Taxation. Decreases, beginning in taxable year 2025, the income tax imposed (i) on income less than $3,000, from two percent to 1.75 percent; (ii) on income in excess of $3,000 but less than $5,000, from three percent to 2.65 percent; (iii) on income...
[Detail][Text][Discuss] | 2024-02-07
To House Finance Committee |
| VA | SB512 | Intro
25% | Income tax credit; adaptive repurposing of underutilized structures. Creates a nonrefundable income tax credit in taxable years 2024 through 2028 for eligible expenses, defined in the bill, incurred in converting office buildings to residential uses....
[Detail][Text][Discuss] | 2024-02-07
Passed by indefinitely in Finance and Appropriations with letter (15-Y 0-N) |
| VA | SB10 | Intro
25% | Income tax subtraction; military retirement benefits; uniformed services. Expands the definition of "military benefits" to include an income tax subtraction of retirement income received for service in the uniformed services of the United States, whi...
[Detail][Text][Discuss] | 2024-02-06
To Senate Finance and Appropriations Committee |
| VA | SB61 | Intro
25% | Income tax subtraction; firefighter benefits. Establishes an income tax subtraction for up to $20,000 of firefighter benefits in taxable year 2024, up to $30,000 in taxable year 2025, and up to $40,000 in taxable year 2026 and each year thereafter. T...
[Detail][Text][Discuss] | 2024-02-06
To Senate Finance and Appropriations Committee |
| VA | SB108 | Intro
25% | Virginia taxable income; standard deduction. Removes the sunset on elevated standard deduction amounts for single individuals and married persons that was scheduled to expire for taxable years beginning on and after January 1, 2026.
[Detail][Text][Discuss] | 2024-02-06
To Senate Finance and Appropriations Committee |
| VA | SB632 | Intro
25% | Taxation. Decreases, beginning in taxable year 2025, the income tax imposed (i) on income less than $3,000, from two percent to 1.75 percent; (ii) on income in excess of $3,000 but less than $5,000, from three percent to 2.65 percent; (iii) on income...
[Detail][Text][Discuss] | 2024-02-06
To Senate Finance and Appropriations Committee |
| VA | SB651 | Intro
25% | Military benefits income tax subtraction; age requirement; emergency. Eliminates the age requirement to claim the individual income tax subtraction for military benefits beginning in taxable year 2023. Under current law, only taxpayers 55 years of ag...
[Detail][Text][Discuss] | 2024-02-06
Passed by indefinitely in Finance and Appropriations (14-Y 0-N) |
| VA | SB662 | Intro
25% | Income tax subtraction; state police retirement benefits. Establishes an income tax subtraction for up to $10,000 of state police retirement benefits in taxable year 2024 and each year thereafter. The bill defines state police retirement benefits to ...
[Detail][Text][Discuss] | 2024-02-06
To Senate Finance and Appropriations Committee |
| VA | HB961 | Intro
25% | Virginia local journalism sustainability tax credits. Creates a nonrefundable income tax credit for eligible local newspaper publishers, defined in the bill, for compensation paid to local news journalists. The credit is equal to (i) for the first ta...
[Detail][Text][Discuss] | 2024-01-31
To House Finance Committee |
| VA | HB1470 | Intro
25% | Income tax deduction; union dues. Provides an income tax deduction beginning in taxable year 2024 for the amount paid by an individual for union dues for participation in a labor organization.
[Detail][Text][Discuss] | 2024-01-31
To House Finance Committee |
