VirginiaSB9512025 Regular SessionSenate

Income tax, state; removes certain sunsets for standard deduction, etc.

Sponsored By: Ryan T. McDougle (Republican)

Failed

Summary

Income tax; certain sunset repeals. Removes the sunset for the standard deduction in the amount of $8,500 for individuals and $17,000 for married individuals that is currently set to expire beginning in taxable year 2026, and revert back to $3,000 for individuals and $6,000 for married individuals. The bill also removes the taxable year 2026 sunset for the partially refundable earned income tax credit that an individual or married individuals may claim in an amount equal to 15 percent of the federal earned income tax credit claimed for federal earned income tax purposes and removes the taxable year 2026 sunset for the elective income tax on pass-through entities. This bill was incorporated into SB 782.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Ryan T. McDougle

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 15 • No: 0

Senate vote • 1/28/2025

Incorporated by Finance and Appropriations (SB782-Suetterlein)

Yes: 15 • No: 0

Actions Timeline

  1. Incorporated by Finance and Appropriations (SB782-Suetterlein) (15-Y 0-N)

    1/28/2025Senate
  2. Impact statement from TAX (SB951)

    1/23/2025Senate
  3. Referred to Committee on Finance and Appropriations

    1/6/2025Senate
  4. Prefiled and ordered printed; Offered 01-08-2025 25102297D

    1/6/2025Senate

Bill Text

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