SB 702 Virginia Senate · 2026 Regular Session

Income tax, state; brackets, deductions, and exemptions, inflation indexing.

Summary
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.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2026
Committee Review
Floor Vote
Governor
Introduced Jan 14, 2026 Last action Feb 5, 2026
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Full legislative history

Actions timeline

Total actions
4
Key actions
0
Committee
1
Jan 14, 2026
Committee
Referred to Committee on Finance and Appropriations
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Kannan Srinivasan
Kannan Srinivasan
DDemocratic
VA
32