VA SB 662
Status unknownTaxation & revenues; extends sunsets for standard deduction and refundable earned income tax.
Virginia · 2026 Regular Session · upper
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Quick answers
Did VA SB 662 pass?
The current status of VA SB 662 is not known from the official record. Latest recorded action (2026-02-17): Left in Finance and Appropriations
What is VA SB 662 about?
Taxation and revenues of the Commonwealth. Extends the sunset from January 1, 2027, to January 1, 2029, for the standard deduction amounts of $8,750 for single individuals and $17,500 for married individuals filing jointly. Under current law, the standard deduction is scheduled to revert to $3,000 for single individuals and $6,000 for married individuals filing jointly after taxable year 2026. The bill also extends the sunset from January 1, 2027, to January 1, 2029, for the increase in Virginia's refundable earned income tax credit from 15 percent to 20 percent of the allowable federal earned income tax credit. Under current law, the Virginia refundable earned income tax credit expires in taxable year 2027 and Virginia's nonrefundable earned income tax credit, which has no expiration date, is equal to 20 percent of the federal credit.
Who sponsors VA SB 662?
L. Louise Lucas is the primary sponsor of VA SB 662.
Description
Taxation and revenues of the Commonwealth. Extends the sunset from January 1, 2027, to January 1, 2029, for the standard deduction amounts of $8,750 for single individuals and $17,500 for married individuals filing jointly. Under current law, the standard deduction is scheduled to revert to $3,000 for single individuals and $6,000 for married individuals filing jointly after taxable year 2026. The bill also extends the sunset from January 1, 2027, to January 1, 2029, for the increase in Virginia's refundable earned income tax credit from 15 percent to 20 percent of the allowable federal earned income tax credit. Under current law, the Virginia refundable earned income tax credit expires in taxable year 2027 and Virginia's nonrefundable earned income tax credit, which has no expiration date, is equal to 20 percent of the federal credit.
- Introduced
- 2026-01-14
- Latest action
- 2026-02-17 — Left in Finance and Appropriations
- Bill type
- bill
- Last updated
- —
Sponsors
- L. Louise Lucasprimary
Committees
Not provided by source.
Action timeline
Newest first
2026-02-17
Left in Finance and Appropriations
2026-02-04
Incorporates SB676 (Rouse)
2026-01-28
Fiscal Impact statement From TAX (1/28/2026 10:58 am)
2026-01-14
Referred to Committee on Finance and Appropriations
referral-committee
2026-01-14
Prefiled and ordered printed; Offered 01-14-2026 26101005D
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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