SB 786 VA
Income tax, state and corporate; microchip & semiconductor manufacturing & supply chain tax credits.
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Summary
This bill would create tax credits for microchip and semiconductor manufacturing and supply chain activities in Virginia. The credits would reduce state income and corporate tax liability for companies engaged in semiconductor manufacturing or supporting supply chain operations. Tax credits incentivize business investment in strategic industries. The Virginia Economic Development Partnership Authority would evaluate the effectiveness of the credits and report on their impact in attracting and retaining semiconductor industry in the state.
AI-generated plain-language summary of the bill (from the OpenStates abstract — no full text available yet) — neutral, and may be imperfect.
Official abstract
A BILL to amend the Code of Virginia by adding in Article 13 of Chapter 3 of Title 58.1 a section numbered 58.1-439.12:13, relating to microchip and semiconductor manufacturing and supply chain tax credits; Virginia Economic Development Partnership Authority evaluation; report.
Sponsor (1)
- Jennifer D. Carroll Foy Democratic · primary
Action history (5)
- Jan 23, 2026 Presented and ordered printed 26102841D · upper
- Jan 23, 2026 Referred to Committee on Finance and Appropriations · upper
- Feb 2, 2026 Fiscal Impact statement From TAX (2/2/2026 7:16 pm) · upper
- Feb 5, 2026 Continued to next session in Finance and Appropriations (14-Y 0-N) · upper
- Jul 21, 2026 Continued from last session · upper
Full text
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