VA SB 139
Status unknownIncome tax, state; subtraction for long-term capital gains from sale of principal residence.
Virginia · 2026 Regular Session · upper
Quick answers
Did VA SB 139 pass?
The current status of VA SB 139 is not known from the official record. Latest recorded action (2026-01-28): Continued to next session in Finance and Appropriations (13-Y 0-N)
What is VA SB 139 about?
Individual income tax subtraction; long-term capital gains from sale of principal residence. Provides an individual income tax subtraction in taxable years 2025 through 2029 for income that is (i) taxed as a long-term capital gain for federal income tax purposes, (ii) attributable to the sale of property that served as the taxpayer's principal residence for at least two of the five years preceding such sale, and (iii) in excess of federal limitations only allowing an exclusion from gross income for up to $250,000, or $500,000, for joint filers, of gain from such a sale.
Who sponsors VA SB 139?
Jeremy S. McPike is the primary sponsor of VA SB 139.
Description
Individual income tax subtraction; long-term capital gains from sale of principal residence. Provides an individual income tax subtraction in taxable years 2025 through 2029 for income that is (i) taxed as a long-term capital gain for federal income tax purposes, (ii) attributable to the sale of property that served as the taxpayer's principal residence for at least two of the five years preceding such sale, and (iii) in excess of federal limitations only allowing an exclusion from gross income for up to $250,000, or $500,000, for joint filers, of gain from such a sale.
- Introduced
- 2026-01-06
- Latest action
- 2026-01-28 — Continued to next session in Finance and Appropriations (13-Y 0-N)
- Bill type
- bill
- Last updated
- —
Sponsors
- Jeremy S. McPikeprimary
Committees
Not provided by source.
Action timeline
2026-01-06
Prefiled and ordered printed; Offered 01-14-2026 26103293D
filing,introduction
2026-01-06
Referred to Committee on Finance and Appropriations
referral-committee
2026-01-18
Fiscal Impact statement From TAX (1/18/2026 4:58 pm)
2026-01-28
Continued to next session in Finance and Appropriations (13-Y 0-N)
Versions
Documents
Votes
Continued to next session in Finance and Appropriations
2026-01-28 · pass · 13-0
Member-level votes (15)
- L. Louise Lucas: yes
- R. Creigh Deeds: yes
- Mamie E. Locke: yes
- David W. Marsden: not voting
- Adam P. Ebbin: yes
- Ryan T. McDougle: yes
- Mark D. Obenshain: yes
- Richard H. Stuart: yes
- Bryce E. Reeves: not voting
- Barbara A. Favola: yes
- Scott A. Surovell: yes
- Jeremy S. McPike: yes
- Jennifer B. Boysko: yes
- Todd E. Pillion: yes
- Aaron R. Rouse: 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
Inspect retained evidence for changes recorded after evidence tracking began:
Use this data
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Known limitations
- Sponsor party and chamber affiliation are not yet captured by this API.
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