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

Virginia SB702, Income tax, state; brackets, deductions, and exemptions, inflation indexing., is a 2027 Regular Session Senate bill sponsored by Kannan Srinivasan (Democratic); status in committee, last action 2026-07-21 (Continued from last session) (as of 2026-10-11).

- Canonical: https://policyrisk.com/state-bill/VA-SB702-2027
- 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: 2027 Regular Session
- Title: Income tax, state; brackets, deductions, and exemptions, inflation indexing.
- Status: in committee
- Chamber: Senate
- Introduced: 2026-01-14
- Last action: 2026-07-21, Continued from last session
- Sponsor: Kannan Srinivasan (Democratic)
- Cosponsors: 0
- Subjects: Finance and Appropriations
- Touches household money: no
- 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

## Actions (5)

- 2026-07-21: Continued from last session (Senate)
- 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/1231319.HTML), [PDF](https://lis.blob.core.windows.net/files/1231318.PDF)

## Related bills

- SB844: Licensed clinical psychologists; prescriptive authority; report. (in committee)
- HB1535: Individuals with developmental or intellectual disabilities; admissibility of statements. (introduced)
- HB1534: School service providers; deletion of student and family personal information. (introduced)
- SB843: Data centers; state permitting, local approval, moratorium, sunset. (in committee)
- SB842: High school student athletes; eligibility, enrollment. (in committee)
- SB840: Corrections, Director of the Department of; placement of inmates, Red Onion State Prison. (in committee)

## Sources
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1231319.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1231318.PDF)

## Related
- [SB844: Licensed clinical psychologists; prescriptive authority; report.](https://policyrisk.com/state-bill/VA-SB844-2027)
- [HB1535: Individuals with developmental or intellectual disabilities; admissibility of s…](https://policyrisk.com/state-bill/VA-HB1535-2027)
- [HB1534: School service providers; deletion of student and family personal information.](https://policyrisk.com/state-bill/VA-HB1534-2027)
- [SB843: Data centers; state permitting, local approval, moratorium, sunset.](https://policyrisk.com/state-bill/VA-SB843-2027)
- [SB842: High school student athletes; eligibility, enrollment.](https://policyrisk.com/state-bill/VA-SB842-2027)
- [SB840: Corrections, Director of the Department of; placement of inmates, Red Onion Sta…](https://policyrisk.com/state-bill/VA-SB840-2027)
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- [Virginia state hub](https://policyrisk.com/states/virginia)
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Source: PRIA, https://policyrisk.com/state-bill/VA-SB702-2027 (as of 2026-10-11).