HB 588 VA

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Introduced

Individual income tax; subtractions; military benefits. Removes the cap on military benefits that may be subtracted from Virginia taxable income for taxable years beginning on and after January 1, 2026, allowing the total amount of such benefits to be subtracted from such income. Under current law, up to $40,000 of military benefits may be subtracted from Virginia taxable income.

• Jason S. Ballard Republican · primary

1. Jan 13, 2026 Prefiled and ordered printed; Offered 01-14-2026 26101424D · lower
2. Jan 13, 2026 Referred to Committee on Finance · lower
3. Jan 20, 2026 Fiscal Impact statement From TAX (1/20/2026 11:39 am) · lower
4. Feb 2, 2026 Subcommittee recommends laying on the table (7-Y 2-N) · lower
5. Feb 18, 2026 Left in Finance · 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.

• Introduced · PDF
• Introduced · HTML