VA HB 188
Status unknownIncome tax, state; establishes a new income tax bracket beginning in taxable year 2026.
Virginia · 2026 Regular Session · lower
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Quick answers
Did VA HB 188 pass?
The current status of VA HB 188 is not known from the official record. Latest recorded action (2026-02-11): Incorporated by Finance (HB979-Watts) (Voice Vote)
What is VA HB 188 about?
Imposition of income tax. Establishes a new income tax bracket beginning in taxable year 2026, that taxes income in excess of $1 million at a rate of 10 percent. Currently, all income in excess of $17,000 is taxed at the rate of 5.75 percent. The bill provides that, from the additional revenue generated from such increased tax rate upon income in excess of $1 million, 50 percent will be dedicated to providing additional basic aid funding for public schools, 30 percent will be dedicated to the Child Care Subsidy Program, and 20 percent will be dedicated to the Virginia Housing Trust Fund. The bill contains technical amendments.
Who sponsors VA HB 188?
Kelly K. Convirs-Fowler is the primary sponsor of VA HB 188, joined by 1 cosponsor.
Description
Imposition of income tax. Establishes a new income tax bracket beginning in taxable year 2026, that taxes income in excess of $1 million at a rate of 10 percent. Currently, all income in excess of $17,000 is taxed at the rate of 5.75 percent. The bill provides that, from the additional revenue generated from such increased tax rate upon income in excess of $1 million, 50 percent will be dedicated to providing additional basic aid funding for public schools, 30 percent will be dedicated to the Child Care Subsidy Program, and 20 percent will be dedicated to the Virginia Housing Trust Fund. The bill contains technical amendments.
- Introduced
- 2026-01-07
- Latest action
- 2026-02-11 — Incorporated by Finance (HB979-Watts) (Voice Vote)
- Bill type
- bill
- Last updated
- —
Sponsors
- Kelly K. Convirs-Fowlerprimary
- Rozia A. Henson, Jr.cosponsor
Committees
Not provided by source.
Action timeline
Newest first
2026-02-11
Incorporated by Finance (HB979-Watts) (Voice Vote)
2026-02-09
Subcommittee recommends incorporating (Voice Vote)
2026-02-05
Assigned HFIN sub: Subcommittee #3
referral-committee
2026-01-30
Fiscal Impact statement From TAX (1/30/2026 1:24 pm)
2026-01-07
Referred to Committee on Finance
referral-committee
2026-01-07
Prefiled and ordered printed; Offered 01-14-2026 26101862D
filing,introduction
Versions
Documents
Votes
Not provided by source.
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_bulk_csv, retrieved 2026-07-24T05:35:59.552682Z
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