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HB 47 Virginia House of Delegates · 2026 Regular Session

Income tax, state; subtractions, uniformed services and foreign service retirement benefits.

Summary
Income tax subtractions; uniformed services and foreign service retirement benefits. Provides that, for taxable years beginning on and after January 1, 2027, (i) the military retirement income tax subtraction allowed under current law shall include retirement income of uniformed service members and (ii) up to $40,000 of United States Foreign Service member retirement benefits shall be subtracted in computing Virginia taxable income.
Issues: ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for military/foreign service retirees by allowing $40k subtraction from taxable income, reducing their tax burden.95% confidence ✓ VeteransSupports VeteransProvides tax deduction for military retirement income, directly benefiting veterans by reducing taxable income on their retirement benefits.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Dec 2025
Committee Review
Floor Vote
Governor
Introduced Dec 29, 2025 Last action Feb 18, 2026
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
5
Key actions
1
Committee
2
Jan 26, 2026
Lower · Passed
Subcommittee recommends laying on the table (8-Y 2-N)
lower
Dec 29, 2025
Committee
Referred to Committee on Finance
lower
1 primary · 1 co-sponsor

Sponsors

Role
Legislator
Party
State
District
P
Photo of David Reid
David Reid
DDemocratic
VA
28
Co
Photo of Paul Krizek
Paul Krizek
DDemocratic
VA
16