HB 504 Virginia House of Delegates · 2026 Regular Session

Income tax, state; tax credit for certain small businesses.

Summary
Income tax; tax credit for certain small businesses. Establishes a one-time, nonrefundable tax credit for taxable years 2026 through 2030 for eligible small businesses, as defined in the bill, equal to $2,500. The bill limits the total aggregate amount of small business credits claimed to $5 million per taxable year.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2026
Committee Review
Floor Vote
Governor
Introduced Jan 12, 2026 Last action Feb 11, 2026
Floor votes

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Full legislative history

Actions timeline

Total actions
6
Key actions
1
Committee
3
Feb 9, 2026
Lower · Passed
Subcommittee recommends continuing to (Voice Vote)
lower
Feb 5, 2026
Committee
Assigned HFIN sub: Subcommittee #1
lower
Jan 12, 2026
Committee
Referred to Committee on Finance
lower
0 primary · 0 co-sponsors

Sponsors

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