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SB 702

Virginia Senate bill in Session 2026.

Status: introduced. Latest action: February 5, 2026.

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

Bill ID VA-2026-SB-702
Session 2026
Status introduced
Committee Finance and Appropriations
Senate introduced 2026-02-05
Tax / Budget / Appropriations
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.

Sponsor
Srinivasan
Official Source Back to Bills
Actions Timeline
Date Event Detail
2026-01-14 Introduced Bill introduced
2026-01-14 Status introduced
2026-02-05 Latest Action S Continued to next session in Finance and Appropriations (10-Y 5-N)
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