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SB 702 VA
Introduced

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

VA · session 2026 · Senate · bill

A state bill is a proposed law in a state legislature — separate from the U.S. Congress. Learn more →

Introduced Jan 14, 2026

Latest action (Feb 5, 2026) Continued to next session in Finance and Appropriations (10-Y 5-N)

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 (1)

Action history (4)
  1. Jan 14, 2026 Prefiled and ordered printed; Offered 01-14-2026 26104185D · upper
  2. Jan 14, 2026 Referred to Committee on Finance and Appropriations · upper
  3. Feb 2, 2026 Fiscal Impact statement From TAX (2/2/2026 6:40 pm) · upper
  4. Feb 5, 2026 Continued to next session 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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