Finance - Subcommittee #1 Subcommittee Agenda
Chair: Hernandez, Phil
Meeting Date & Time: 02/02/2026 07:00 AM Add to Calendar
Location: House Committee Room B - 205
Testimony/Comments: Sign up to speak or submit comments (opens in a new window)
Active item: Meeting Adjourned
Video: Archived
Committee Clerk: 804-698-1947
DLS Contact: Schultz (804) 698-1863; Cronin (804) 698-1832
Income Tax Credits
| Bill(s) | Patron | Title |
|---|---|---|
| HB400 | Herring | Motion picture production; increases aggregate cap on tax credit, extends sunset. |
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Summary: An Act to amend and reenact § 58.1-439.12:03 of the Code of Virginia, relating to motion picture production income tax credit; sunset extended. Last actions:
Senate Committee Actions: • 3/4/2026 - Engrossed by Senate - floor substitute • 3/4/2026 - Passed Senate with substitute (25-Y 15-N 0-A) • 3/4/2026 - Reconsideration of Senate passage agreed to by Senate (40-Y 0-N 0-A) • 3/4/2026 - Passed Senate with substitute (24-Y 16-N 0-A) • 3/4/2026 - Engrossed by Senate - floor substitute Related Bills: SB828 (Bagby) Subcommittee #1 Subcommittee recommends reporting with amendment(s) (11-Y 0-N) |
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| HB403 | Reid | Income tax, state; credits for child care-related expenses. |
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Summary: A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.15 and by adding in Article 13 of Chapter 3 of Title 58.1 a section numbered 58.1-439.12:13, relating to income tax credits; child care-related expenses. Subcommittee recommends laying on the table (7-Y 2-N)Yeas (7): Hernandez, Anthony, Callsen, Gardner, Maldonado, Pope Adams, Bulova Nays (2): McNamara, Davis Not Voting (1): Fowler Last actions:
Subcommittee #1 Subcommittee recommends laying on the table (7-Y 2-N) |
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| HB697 | Kent | Income tax, state; credit for surviving spouse's real property taxes. |
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Summary: A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.15, relating to income tax; credit for surviving spouse's real property taxes. Last actions:
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| HB1123 | Thornton | Income tax, state; credit for certain health care providers. |
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Summary: A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.15, relating to income tax; credit for certain health care providers. Subcommittee recommends laying on the table (7-Y 3-N)Yeas (7): Hernandez, Anthony, Callsen, Gardner, Maldonado, Pope Adams, Bulova Nays (3): Fowler, McNamara, Davis Last actions:
Subcommittee #1 Subcommittee recommends laying on the table (7-Y 3-N) |
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| HB1211 | Sewell | Income tax, state; first-time homebuyer tax credit. |
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Summary: A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.15, relating to individual income tax; first-time homebuyer tax credit. Subcommittee recommends laying on the table (7-Y 3-N)Yeas (7): Hernandez, Callsen, Gardner, Maldonado, Pope Adams, Bulova, Watts Nays (3): Fowler, McNamara, Davis Not Voting (1): Anthony Last actions:
Related Bills: SB747 (Pillion) Subcommittee #1 Subcommittee recommends laying on the table (7-Y 3-N) |
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Income Tax Subtractions/Deductions
| Bill(s) | Patron | Title |
|---|---|---|
| HB458 | Krizek | Income tax, corporate and state; subtraction for broadband grant fund awards. |
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Summary: A BILL to amend and reenact §§ 58.1-322.02 and 58.1-402 of the Code of Virginia, relating to income tax subtraction; broadband grant fund awards. Subcommittee recommends laying on the table (7-Y 3-N)Yeas (7): Hernandez, Anthony, Callsen, Gardner, Maldonado, Pope Adams, Bulova Nays (3): Fowler, McNamara, Davis Last actions:
Related Bills: SB380 (Boysko) Subcommittee #1 Subcommittee recommends laying on the table (7-Y 3-N) |
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| HB588 | Ballard | Income tax, state; subtractions for military benefits. |
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Summary: A BILL to amend and reenact § 58.1-322.02 of the Code of Virginia, relating to individual income tax; subtractions; military benefits. Subcommittee recommends laying on the table (7-Y 2-N)Yeas (7): Hernandez, Anthony, Callsen, Gardner, Maldonado, Pope Adams, Bulova Nays (2): Fowler, Davis Not Voting (1): McNamara Last actions:
Subcommittee #1 Subcommittee recommends laying on the table (7-Y 2-N) |
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| HB958 | Watts | Income tax, corporate; taxable income, net operating loss. |
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Summary: A BILL to amend and reenact § 58.1-402 of the Code of Virginia, relating to corporate income tax; taxable income; net operating loss. Subcommittee recommends reporting (9-Y 0-N)Yeas (9): Hernandez, Callsen, Gardner, Maldonado, Pope Adams, Bulova, Fowler, Davis, Watts Not Voting (2): Anthony, McNamara Last actions:
Senate Committee Actions: • 2/11/2026 - Constitutional reading dispensed (on 1st reading) • 2/11/2026 - Referred to Committee on Finance and Appropriations • 2/12/2026 - Removed from Finance and Appropriations docket for Feb 12, 2026 • 3/3/2026 - Placed on Finance and Appropriations docket for Mar 03, 2026 • 3/3/2026 - Continued to next session in Finance and Appropriations (14-Y 1-N) Subcommittee #1 Subcommittee recommends reporting (9-Y 0-N) |
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| HB991 | Garrett | Income tax, state; subtraction for volunteer firefighters and emergency medical services personnel. |
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Summary: A BILL to amend and reenact § 58.1-322.02 of the Code of Virginia, relating to Virginia taxable income; subtractions; volunteer firefighters and volunteer emergency medical services personnel. Subcommittee recommends laying on the table (7-Y 2-N)Yeas (7): Hernandez, Callsen, Gardner, Maldonado, Pope Adams, Bulova, Watts Nays (2): Fowler, Davis Not Voting (2): Anthony, McNamara Last actions:
Subcommittee #1 Subcommittee recommends laying on the table (7-Y 2-N) |
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| HB1155 | Hodges | Income tax, state and corporate; subtraction for broad band grant fund awards. |
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Summary: A BILL to amend and reenact §§ 58.1-322.02 and 58.1-402 of the Code of Virginia, relating to income tax subtraction; broadband grant fund awards. Subcommittee recommends striking from the docket (8-Y 0-N)Yeas (8): Hernandez, Anthony, Callsen, Maldonado, Pope Adams, Bulova, McNamara, Davis Not Voting (2): Gardner, Fowler Last actions:
Subcommittee #1 Subcommittee recommends striking from the docket (8-Y 0-N) |
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| HB1210 | Sewell | Income tax, state; subtraction for long-term capital gains from sale of principal residence. |
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Summary: A BILL to amend and reenact § 58.1-322.02 of the Code of Virginia, relating to individual income tax subtraction; long-term capital gains from sale of principal residence. Subcommittee recommends laying on the table (7-Y 3-N)Yeas (7): Hernandez, Callsen, Gardner, Maldonado, Pope Adams, Bulova, Watts Nays (3): Fowler, McNamara, Davis Not Voting (1): Anthony Last actions:
Related Bills: SB139 (McPike) Subcommittee #1 Subcommittee recommends laying on the table (7-Y 3-N) |
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