# Virginia HB2333: Income tax, state; establishes a new bracket beginning on and after January 1, 2025.

Virginia HB2333, Income tax, state; establishes a new bracket beginning on and after January 1, 2025., is a 2025 Regular Session House bill sponsored by Phil M. Hernandez (Democratic); status failed, last action 2025-02-04 (Left in Finance) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/VA-HB2333-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia HB2333
- State: Virginia
- Session: 2025 Regular Session
- Title: Income tax, state; establishes a new bracket beginning on and after January 1, 2025.
- Status: failed
- Chamber: House
- Introduced: 2025-01-08
- Last action: 2025-02-04, Left in Finance
- Sponsor: Phil M. Hernandez (Democratic)
- Cosponsors: 0
- Subjects: Subcommittee #3
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Imposition of income tax. Establishes a new income tax bracket beginning on and after January 1, 2025, that taxes income in excess of $1 million at a rate of 10 percent. Currently, all income in excess of $17,000 is taxed at the rate of 5.75 percent. The bill provides that, from the additional revenue generated from such increased tax rate upon income in excess of $1 million, 50 percent will be dedicated to providing additional basic aid funding for public schools, 30 percent will be dedicated to the Child Care Subsidy Program, and 20 percent will be dedicated to the Virginia Housing Trust Fund. The bill contains technical amendments.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Phil M. Hernandez (Democratic), House

## Actions (5)

- 2025-02-04: Left in Finance (House)
- 2025-01-25: Assigned Finance sub: Subcommittee #3 (House)
- 2025-01-19: Impact statement from TAX (HB2333) (House)
- 2025-01-08: Referred to Committee on Finance (House)
- 2025-01-08: Prefiled and ordered printed; Offered 01-08-2025 25101304D (House)

## Bill text

- Introduced, 2025-01-08: [HTML](https://lis.blob.core.windows.net/files/1015946.HTML), [PDF](https://lis.blob.core.windows.net/files/1015945.PDF)

## Related bills

- HR671: Commending JR's Auto Care. (adopted)
- SB941: Robbery; use of air or gas operated weapon, etc., penalty. (failed)
- HB1746: Public safety officer; definition. (failed)
- HB1600: Budget Bill. (failed)
- SB1449: Data centers; site assessment for high energy use facility. (failed)
- HB1609: Essential health benefits benchmark plan; Commission to consider coverage for infertility treatment. (to governor)

## Sources
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1015946.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1015945.PDF)

## Related
- [HR671: Commending JR's Auto Care.](https://policyrisk.com/state-bill/VA-HR671-2025)
- [SB941: Robbery; use of air or gas operated weapon, etc., penalty.](https://policyrisk.com/state-bill/VA-SB941-2025)
- [HB1746: Public safety officer; definition.](https://policyrisk.com/state-bill/VA-HB1746-2025)
- [HB1600: Budget Bill.](https://policyrisk.com/state-bill/VA-HB1600-2025)
- [SB1449: Data centers; site assessment for high energy use facility.](https://policyrisk.com/state-bill/VA-SB1449-2025)
- [HB1609: Essential health benefits benchmark plan; Commission to consider coverage for i…](https://policyrisk.com/state-bill/VA-HB1609-2025)
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Source: PRIA, https://policyrisk.com/state-bill/VA-HB2333-2025 (as of 2026-10-17).