SB 662 VA

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Introduced

Taxation and revenues of the Commonwealth. Extends the sunset from January 1, 2027, to January 1, 2029, for the standard deduction amounts of $8,750 for single individuals and $17,500 for married individuals filing jointly. Under current law, the standard deduction is scheduled to revert to $3,000 for single individuals and $6,000 for married individuals filing jointly after taxable year 2026. The bill also extends the sunset from January 1, 2027, to January 1, 2029, for the increase in Virginia's refundable earned income tax credit from 15 percent to 20 percent of the allowable federal earned income tax credit. Under current law, the Virginia refundable earned income tax credit expires in taxable year 2027 and Virginia's nonrefundable earned income tax credit, which has no expiration date, is equal to 20 percent of the federal credit.

• L. Louise Lucas Democratic · primary

1. Jan 14, 2026 Prefiled and ordered printed; Offered 01-14-2026 26101005D · upper
2. Jan 14, 2026 Referred to Committee on Finance and Appropriations · upper
3. Jan 28, 2026 Fiscal Impact statement From TAX (1/28/2026 10:58 am) · upper
4. Feb 4, 2026 Incorporates SB676 (Rouse) · upper
5. Feb 17, 2026 Left in Finance and Appropriations · upper

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