HB 588

Virginia House of Delegates bill in Session 2026.

Status: failed. Latest action: February 18, 2026.

Income tax, state; subtractions for military benefits.

Bill ID VA-2026-HB-588
Session 2026
Status failed
Committee Finance
House of Delegates failed 2026-02-18
Tax / Budget / Appropriations
Summary

Individual income tax; subtractions; military benefits. Removes the cap on military benefits that may be subtracted from Virginia taxable income for taxable years beginning on and after January 1, 2026, allowing the total amount of such benefits to be subtracted from such income. Under current law, up to $40,000 of military benefits may be subtracted from Virginia taxable income.

Sponsor
Ballard
Official Source Back to Bills
Actions Timeline
Date Event Detail
0000-00-00 Status failed
2026-01-13 Introduced Bill introduced
2026-02-18 Latest Action H Left in Finance
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