# Virginia SB1113: Income tax, state; tax credit for adaptive repurposing of underutilized structures.

Virginia SB1113, Income tax, state; tax credit for adaptive repurposing of underutilized structures., is a 2025 Regular Session Senate bill sponsored by Angelia Williams Graves (Democratic); status failed, last action 2025-02-05 (Left in Finance and Appropriations) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/VA-SB1113-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia SB1113
- State: Virginia
- Session: 2025 Regular Session
- Title: Income tax, state; tax credit for adaptive repurposing of underutilized structures.
- Status: failed
- Chamber: Senate
- Introduced: 2025-01-07
- Last action: 2025-02-05, Left in Finance and Appropriations
- Sponsor: Angelia Williams Graves (Democratic)
- Cosponsors: 0
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Income tax credit; adaptive repurposing of underutilized structures; Affordable Dwelling Units. Creates a nonrefundable income tax credit in taxable years 2025 through 2029 for eligible expenses, defined in the bill, incurred in converting office buildings to residential uses. The credit may be claimed only in the year during which a qualified converted building, defined in the bill, is placed into service and is equal to (i) 20 percent or (ii) 30 percent in an at-risk locality, defined in the bill, of the amount of eligible expenses incurred. No single taxpayer may claim more than $2.5 million in credits in any single taxable year and the credit is subject to an aggregate annual cap of $30 million. The bill also allows localities to restrict certain partial exemptions from real estate taxation to real property on which the improvement is a residential structure that has set aside at least 30 percent of such structure for Affordable Dwelling Units.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Angelia Williams Graves (Democratic), Senate

## Actions (4)

- 2025-02-05: Left in Finance and Appropriations (Senate)
- 2025-01-18: Impact statement from TAX (SB1113) (Senate)
- 2025-01-07: Referred to Committee on Finance and Appropriations (Senate)
- 2025-01-07: Prefiled and ordered printed; Offered 01-08-2025 25102487D (Senate)

## Bill text

- Introduced, 2025-01-07: [HTML](https://lis.blob.core.windows.net/files/1017913.HTML), [PDF](https://lis.blob.core.windows.net/files/1017912.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/1017913.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1017912.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)
- [Virginia bills](https://policyrisk.com/states/virginia/bills)
- [Virginia state hub](https://policyrisk.com/states/virginia)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/VA-SB1113-2025 (as of 2026-10-17).