SB 452 VA
Commonwealth Savers Plan; ImABLE accounts established, tax treatment.
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Summary
Virginia Senate Bill 452 would establish the Commonwealth Savers Plan with ImABLE accounts for savings and retirement purposes. The bill would amend the Virginia Code to create ImABLE accounts and would establish the tax treatment of contributions and withdrawals from such accounts.
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 and reenact §§ 23.1-700, 23.1-704, 34-26, 34-34, 40.1-28.7:7, 58.1-322.02, 58.1-322.03, 58.1-902, and 60.2-212 of the Code of Virginia and to amend the Code of Virginia by adding in Title 23.1 a chapter numbered 7.1, consisting of sections numbered 23.1-714 through 23.1-722, and by adding in Article 1 of Chapter 3 of Title 40.1 a section numbered 40.1-28.7:12, relating to Commonwealth Savers Plan; ImABLE accounts established; tax treatment.
Sponsor (1)
- Emily M. Jordan Republican · primary
Action history (5)
- Jan 13, 2026 Prefiled and ordered printed; Offered 01-14-2026 26103164D · upper
- Jan 13, 2026 Referred to Committee on Finance and Appropriations · upper
- Jan 29, 2026 Fiscal Impact Statement from Department of Planning and Budget (SB452) · upper
- Feb 3, 2026 Continued to next session in Finance and Appropriations (15-Y 0-N) · upper
- Jul 21, 2026 Continued from last session · upper
Full text
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