HB 979 VA

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Introduced

Taxation provisions. Increases the standard deduction to $10,000 for single individuals, $15,000 for individuals eligible to claim head of household for federal tax purposes, and $20,000 for married individuals beginning in taxable year 2027 and indexes such deduction amount for inflation beginning in taxable year 2028. The bill also removes the aggregate amount of housing opportunity tax credits that may be claimed for qualified projects across all calendar years and exempts food purchased for human consumption and essential personal hygiene products from the local sales tax. The bill establishes two new tax brackets beginning on and after January 1, 2027, that tax income in excess of $600,000 but not in excess of $1,000,000 at a rate of eight percent and income in excess of $1,000,000 at a rate of 10 percent. Finally, the bill provides that 50 percent of revenues generated by the new tax brackets will be dedicated to localities for maintenance, operation, capital outlays, debt and interest payments, or other expenses incurred in the operation of public schools.

• Vivian E. Watts Democratic · primary

1. Jan 13, 2026 Prefiled and ordered printed; Offered 01-14-2026 26105358D · lower
2. Jan 13, 2026 Referred to Committee on Finance · lower
3. Feb 5, 2026 Assigned HFIN sub: Subcommittee #3 · lower
4. Feb 7, 2026 Fiscal Impact statement From TAX (2/7/2026 8:31 am) · lower
5. Feb 8, 2026 House subcommittee offered · lower
6. Feb 8, 2026 Fiscal Impact statement From TAX (2/8/2026 9:56 pm) · lower
7. Feb 9, 2026 Subcommittee recommends continuing to (Voice Vote) · lower
8. Feb 11, 2026 Continued to next session in Finance (Voice Vote) · lower
9. Feb 11, 2026 Incorporates HB188 (Convirs-Fowler) · lower

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.

• Subcommittee #3 Subcommittee Substitute · PDF
• Subcommittee #3 Subcommittee Substitute · HTML
• Finance Substitute · PDF
• Finance Substitute · HTML
• Introduced · PDF
• Introduced · HTML