# Virginia HB2681: Net operating losses; TAX, et al., to analyze treatment in Va. when compared to other states.

Virginia HB2681, Net operating losses; TAX, et al., to analyze treatment in Va. when compared to other states., is a 2025 Regular Session House bill sponsored by Jason S. Ballard (Republican); status failed, last action 2025-02-11 (Passed by indefinitely in Finance and Appropriations (13-Y 0-N)) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/VA-HB2681-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia HB2681
- State: Virginia
- Session: 2025 Regular Session
- Title: Net operating losses; TAX, et al., to analyze treatment in Va. when compared to other states.
- Status: failed
- Chamber: House
- Introduced: 2025-01-16
- Last action: 2025-02-11, Passed by indefinitely in Finance and Appropriations (13-Y 0-N)
- Sponsor: Jason S. Ballard (Republican)
- Cosponsors: 0
- Subjects: Finance and Appropriations
- Touches household money: no
- Roll calls: 5 (238 yes, 0 no in all)
- Economic provisions PRIA read: 0

## Summary

Department of Taxation; corporate tax returns involving net operating losses; work group; report. Directs the Department of Taxation to convene a work group composed of tax practitioners experienced in the preparation of corporate tax returns involving net operating losses to study the treatment of net operating losses in Virginia when compared to other states and to make recommendations to simplify such treatment in Virginia. The bill directs the work group to complete its meetings by October 1, 2025, and the Department to submit a report of the work group's findings and recommendations to the Chairmen of the Senate Committee on Finance and Appropriations, the House Committee on Finance, and the House Committee on Appropriations by November 1, 2025.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Jason S. Ballard (Republican), House

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2025-02-11 | Senate | Passed by indefinitely in Finance and Appropriations | pass | 13 | 0 |   |
| 2025-02-04 | House | Read third time and passed House Block Vote | pass | 97 | 0 |   |
| 2025-02-04 | House | Passed House Block Vote | pass | 99 | 0 |   |
| 2025-01-29 | House | Reported from Finance with substitute | pass | 22 | 0 |   |
| 2025-01-28 | House | Subcommittee recommends reporting with substitute | pass | 7 | 0 |   |

## Actions (18)

- 2025-02-11: Passed by indefinitely in Finance and Appropriations (13-Y 0-N) (Senate)
- 2025-02-06: Impact statement from TAX (HB2681) (House)
- 2025-02-05: Referred to Committee on Finance and Appropriations (Senate)
- 2025-02-05: Constitutional reading dispensed (on 1st reading) (Senate)
- 2025-02-04: Passed House Block Vote (99-Y 0-N) (House)
- 2025-02-04: Reconsideration of passage agreed to by House (House)
- 2025-02-04: Read third time and passed House Block Vote (97-Y 0-N) (House)
- 2025-02-03: Engrossed by House - committee substitute (House)
- 2025-02-03: Finance Substitute agreed to (House)
- 2025-02-03: Read second time (House)
- 2025-01-31: Read first time (House)
- 2025-01-29: Committee substitute printed 25106127D-H1 (House)
- 2025-01-29: Reported from Finance with substitute (22-Y 0-N) (House)
- 2025-01-28: Subcommittee recommends reporting with substitute (7-Y 0-N) (House)
- 2025-01-26: Impact statement from TAX (HB2681) (House)
- 2025-01-25: Assigned Finance sub: Subcommittee #2 (House)
- 2025-01-16: Referred to Committee on Finance (House)
- 2025-01-16: Presented and ordered printed 25104650D (House)

## Bill text

- Substitute, 2025-01-29: [HTML](https://lis.blob.core.windows.net/files/1032311.HTML), [PDF](https://lis.blob.core.windows.net/files/1032310.PDF)
- Introduced, 2025-01-16: [HTML](https://lis.blob.core.windows.net/files/1021376.HTML), [PDF](https://lis.blob.core.windows.net/files/1021375.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
- [Substitute (HTML)](https://lis.blob.core.windows.net/files/1032311.HTML)
- [Substitute (PDF)](https://lis.blob.core.windows.net/files/1032310.PDF)
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1021376.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1021375.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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- [Virginia state hub](https://policyrisk.com/states/virginia)
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Source: PRIA, https://policyrisk.com/state-bill/VA-HB2681-2025 (as of 2026-10-17).