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SB 702

BillStateVASenate
Income tax, state; brackets, deductions, and exemptions, inflation indexing.
About This Bill
Latest Action · Jul 21, 2026
Continued from last session
Session
2027
Introduced
Jan 14, 2026
Primary Sponsor
Kannan Srinivasan· primary

Summary

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A BILL to amend and reenact §§ 58.1-302, 58.1-320, 58.1-321, and 58.1-322.03 of the Code of Virginia and to amend the Code of Virginia by adding a section numbered 58.1-210.2, relating to individual income tax; brackets, deductions, and exemptions; inflation indexing. Individual income tax; brackets, deductions, and exemptions; inflation indexing. Adjusts annually the amount of the income tax brackets, standard deduction, personal and other individual exemptions and deductions, and filing threshold to the annual change in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U). The bill directs the Department of Taxation to annually publish on its website the individual income tax inflation adjustments. This bill contains technical amendments.

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