# Virginia SB702: Income tax, state; brackets, deductions, and exemptions, inflation indexing.

Virginia SB702, Income tax, state; brackets, deductions, and exemptions, inflation indexing., is a 2026 Regular Session Senate bill sponsored by Kannan Srinivasan (Democratic); status in committee, last action 2026-02-05 (Continued to 2027 in Finance and Appropriations (10-Y 5-N)) (as of 2026-10-11).

- Canonical: https://policyrisk.com/state-bill/VA-SB702-2026
- As of: 2026-10-11
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia SB702
- State: Virginia
- Session: 2026 Regular Session
- Title: Income tax, state; brackets, deductions, and exemptions, inflation indexing.
- Status: in committee
- Chamber: Senate
- Introduced: 2026-01-14
- Last action: 2026-02-05, Continued to 2027 in Finance and Appropriations (10-Y 5-N)
- Sponsor: Kannan Srinivasan (Democratic)
- Cosponsors: 0
- Subjects: Finance and Appropriations
- Touches household money: no
- Roll calls: 1 (10 yes, 5 no in all)
- Economic provisions PRIA read: 0

## 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.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Kannan Srinivasan (Democratic), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-02-05 | Senate | Continued to 2027 in Finance and Appropriations | pass | 10 | 5 |   |

## Actions (4)

- 2026-02-05: Continued to 2027 in Finance and Appropriations (10-Y 5-N) (Senate)
- 2026-02-02: Fiscal Impact statement From TAX (2/2/2026 6:40 pm) (Senate)
- 2026-01-14: Referred to Committee on Finance and Appropriations (Senate)
- 2026-01-14: Prefiled and ordered printed; Offered 01-14-2026 26104185D (Senate)

## Bill text

- Introduced, 2026-01-14: [HTML](https://lis.blob.core.windows.net/files/1092087.HTML), [PDF](https://lis.blob.core.windows.net/files/1092086.PDF)

## Related bills

- HB5: Employment; paid sick leave, civil penalties. (signed)
- SB199: Employment; paid sick leave, civil penalties. (signed)
- HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with rental agreement. (signed)
- HB1393: Electric utilities; pilot program for energy assistance and weatherization for certain individuals. (signed)
- HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, termination by landlord. (signed)
- HB675: Protection of employees; coercion or threat based on immigration status, civil penalty. (signed)

## Sources
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1092087.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1092086.PDF)

## Related
- [HB5: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-HB5-2026)
- [SB199: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-SB199-2026)
- [HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with…](https://policyrisk.com/state-bill/VA-HB95-2026)
- [HB1393: Electric utilities; pilot program for energy assistance and weatherization for…](https://policyrisk.com/state-bill/VA-HB1393-2026)
- [HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, terminat…](https://policyrisk.com/state-bill/VA-HB834-2026)
- [HB675: Protection of employees; coercion or threat based on immigration status, civil…](https://policyrisk.com/state-bill/VA-HB675-2026)
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Source: PRIA, https://policyrisk.com/state-bill/VA-SB702-2026 (as of 2026-10-11).