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Individual income tax; subtractions; military benefits. Removes the cap on military benefits that may be subtracted from Virginia taxable income for taxable years beginning on and after January 1, 2026, allowing the total amount of such benefits to be subtracted from such income. Under current law, up to $40,000 of military benefits may be subtracted from Virginia taxable income.
Introduced
Jan 13, 2026
Last Action
Feb 18, 2026
Session
VA 2026
Sponsors
1 primary · 1 co
Left in Finance
Subcommittee recommends laying on the table (7-Y 2-N)
Fiscal Impact statement From TAX (1/20/2026 11:39 am)
Prefiled and ordered printed; Offered 01-14-2026 26101424D
Referred to Committee on Finance
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Left in Finance
Jason S. Ballard