HB47
Income tax, state; subtractions, uniformed services and foreign service retirement benefits.
Status:
In House
Latest Action:
Jan. 26, 2026
House: Subcommittee recommends laying on the table (8-Y 2-N)
Chief Patron:
David Reid (D)
Session:
2026 Regular Session
Summary
As Introduced. Income tax subtractions; uniformed services and foreign service retirement benefits.
Provides that, for taxable years beginning on and after January 1, 2027, (i) the military retirement income tax subtraction allowed under current law shall include retirement income of uniformed service members and (ii) up to $40,000 of United States Foreign Service member retirement benefits shall be subtracted in computing Virginia ... (More) taxable income. (Less)-
Bill History
- 12/29/2025 - House: Prefiled and ordered printed; Offered 01-14-2026 26100259D
- 12/29/2025 - House: Referred to Committee on Finance
- 01/18/2026 - House: Fiscal Impact statement From TAX (1/18/2026 4:32 pm)
- 01/23/2026 - House: Placed on Finance Agenda
- 01/26/2026 - House: Subcommittee recommends laying on the table (8-Y 2-N)
