VA HB 977
Status unknownTax laws of the Commonwealth; conformity to the Internal Revenue Code.
Virginia · 2026 Regular Session · lower
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Quick answers
Did VA HB 977 pass?
The current status of VA HB 977 is not known from the official record. Latest recorded action (2026-02-18): Left in Committee Appropriations
What is VA HB 977 about?
Conformity of the tax laws of the Commonwealth to the Internal Revenue Code. Repeals rolling conformity and reestablishes fixed date conformity with the Internal Revenue Code as it existed on December 31, 2024, for Virginia income tax purposes beginning with taxable year 2025. Under current law, Virginia conforms to federal tax changes as soon as they are enacted by Congress, with certain exceptions. Virginia deconforms from any amendment that would increase or decrease general fund revenues by more than $15 million in the fiscal year in which the amendment was enacted or any of the succeeding four fiscal years. The $15 million threshold is adjusted for inflation annually beginning in 2024. Virginia also deconforms from all amendments occurring between adjournment sine die of the previous regular session and the first day of the subsequent regular session if the cumulative impact of such amendments would increase or decrease general fund revenues by more than $75 million in the fiscal year in which the amendments were enacted or any of the succeeding four fiscal years. Deconformity under rolling conformity does not apply to any federal tax changes that the General Assembly subsequently adopts or to any federal tax extender. However, the twelfth enactment of the 2025 Appropriation Act temporarily paused rolling conformity generally for any federal tax changes enacted on or after January 1, 2025, but before January 1, 2027, and thereby still required Virginia to conform to any federal tax changes that the General Assembly subsequently adopts and to any federal tax extenders.
Who sponsors VA HB 977?
Vivian E. Watts is the primary sponsor of VA HB 977.
Description
Conformity of the tax laws of the Commonwealth to the Internal Revenue Code. Repeals rolling conformity and reestablishes fixed date conformity with the Internal Revenue Code as it existed on December 31, 2024, for Virginia income tax purposes beginning with taxable year 2025. Under current law, Virginia conforms to federal tax changes as soon as they are enacted by Congress, with certain exceptions. Virginia deconforms from any amendment that would increase or decrease general fund revenues by more than $15 million in the fiscal year in which the amendment was enacted or any of the succeeding four fiscal years. The $15 million threshold is adjusted for inflation annually beginning in 2024. Virginia also deconforms from all amendments occurring between adjournment sine die of the previous regular session and the first day of the subsequent regular session if the cumulative impact of such amendments would increase or decrease general fund revenues by more than $75 million in the fiscal year in which the amendments were enacted or any of the succeeding four fiscal years. Deconformity under rolling conformity does not apply to any federal tax changes that the General Assembly subsequently adopts or to any federal tax extender. However, the twelfth enactment of the 2025 Appropriation Act temporarily paused rolling conformity generally for any federal tax changes enacted on or after January 1, 2025, but before January 1, 2027, and thereby still required Virginia to conform to any federal tax changes that the General Assembly subsequently adopts and to any federal tax extenders.
- Introduced
- 2026-01-13
- Latest action
- 2026-02-18 — Left in Committee Appropriations
- Bill type
- bill
- Last updated
- —
Sponsors
- Vivian E. Wattsprimary
Committees
Not provided by source.
Action timeline
Newest first
2026-02-18
Left in Committee Appropriations
2026-01-29
Committee substitute printed 26106211D-H1
substitution
2026-01-28
Reported from Finance with substitute and referred to Appropriations (22-Y 0-N)
committee-passage
2026-01-28
House committee offered
2026-01-26
Fiscal Impact statement From TAX (1/26/2026 12:40 pm)
2026-01-26
Fiscal Impact statement From TAX (1/26/2026 12:36 pm)
2026-01-26
House subcommittee offered
2026-01-16
House committee offered
2026-01-13
Referred to Committee on Finance
referral-committee
2026-01-13
Prefiled and ordered printed with emergency clause; Offered 01-14-2026 26103241D
filing,introduction
Versions
Documents
Votes
Reported from Finance with substitute
2026-01-28 · pass · 22-0
Member-level votes (22)
- Vivian E. Watts: yes
- Phil M. Hernandez: yes
- Richard C. "Rip" Sullivan, Jr.: yes
- Elizabeth B. Bennett-Parker: yes
- Bonita G. Anthony: yes
- Katrina Callsen: yes
- Debra D. Gardner: yes
- Karen Keys-Gamarra: yes
- Michelle Lopes Maldonado: yes
- Kimberly Pope Adams: yes
- Nicole Cole: yes
- Stacey Annie Carroll: yes
- Lindsey Dougherty: yes
- Margaret A. Franklin: yes
- Gretchen M. Bulova: yes
- R. Lee Ware: yes
- Hyland F. "Buddy" Fowler, Jr.: yes
- Joseph P. McNamara: yes
- Wendell S. Walker: yes
- Chris S. Runion: yes
- Thomas A. Garrett, Jr.: yes
- Will Davis: yes
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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