VirginiaSB7022026 Regular SessionSenate

Income tax, state; brackets, deductions, and exemptions, inflation indexing.

Sponsored By: Kannan Srinivasan (Democratic)

In Committee

Summary

Individual income tax; brackets, deductions, and exemptions; inflation indexing. Adjusts annually the amount of the income tax brackets, standard deduction, personal and other individual exemptions and deductions, and filing threshold to the annual change in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U). The bill directs the Department of Taxation to annually publish on its website the individual income tax inflation adjustments. This bill contains technical amendments.

Finance and Appropriations

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Kannan Srinivasan

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 10 • No: 5

Senate vote 2/5/2026

Continued to 2027 in Finance and Appropriations

Yes: 10 • No: 5

Actions Timeline

  1. Continued to 2027 in Finance and Appropriations (10-Y 5-N)

    2/5/2026Senate
  2. Fiscal Impact statement From TAX (2/2/2026 6:40 pm)

    2/2/2026Senate
  3. Referred to Committee on Finance and Appropriations

    1/14/2026Senate
  4. Prefiled and ordered printed; Offered 01-14-2026 26104185D

    1/14/2026Senate

Bill Text

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