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SB 799 VA
Introduced

Tangible personal property tax relief; rate of taxation.

VA · session 2026 · Senate · bill

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Introduced Jan 23, 2026

Latest action (Feb 3, 2026) Passed by indefinitely in Finance and Appropriations (10-Y 5-N)

Summary

Tangible personal property tax relief; rate of taxation. Removes the $950 million cap, beginning in tax year 2027 and all tax years thereafter, on the amount of tangible personal property tax relief reimbursed to localities by the Commonwealth. The bill requires, for tax year 2027 and all tax years thereafter, each county, city, or town to reduce its local tax rate on qualifying vehicles to no greater than $0.00000001 per $100 of assessed value of the qualifying vehicle.

Sponsor (1)
17 coauthors / cosponsors

Action history (4)
  1. Jan 23, 2026 Presented and ordered printed 26105863D · upper
  2. Jan 23, 2026 Referred to Committee on Finance and Appropriations · upper
  3. Jan 29, 2026 Fiscal Impact statement From TAX (1/29/2026 11:07 am) · upper
  4. Feb 3, 2026 Passed by indefinitely in Finance and Appropriations (10-Y 5-N) · upper

Text versions (2)

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

  • Introduced · PDF
  • Introduced · HTML

Full text

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