VA SB 697
Status unknownRetail Sales and Use Tax; dealer discount.
Virginia · 2026 Regular Session · upper
Quick answers
Did VA SB 697 pass?
The current status of VA SB 697 is not known from the official record. Latest recorded action (2026-01-28): Passed by indefinitely in Finance and Appropriations (10-Y 4-N)
What is VA SB 697 about?
Sales and use tax; dealer discount. Provides that the state retail sales and use tax dealer discount percentages allowed from the first three percent of such tax imposed shall be (i) eight percent for monthly taxable sales between $0 and $30,000; (ii) four percent for monthly taxable sales between $30,001 and $62,500; (iii) 1.2 percent for monthly taxable sales between $62,501 and $208,000; and (iv) 0.8 percent for monthly taxable sales of $208,001 and above. Under current statutory law, such dealer discount percentages are (a) four percent for monthly taxable sales between $0 and $62,500; (b) three percent for monthly taxable sales between $62,501 and $208,000; and (c) two percent for monthly taxable sales of $208,001 and above. However, superseding budgetary provisions (1) limit such dealer discount percentages to (A) 1.6 percent for monthly taxable sales between $0 and $62,500; (B) 1.2 percent for monthly taxable sales between $62,501 to $208,000; and (C) 0.8 percent for monthly taxable sales of $208,001 and above and (2) suspend the discount entirely for dealers subject to the electronic funds transfer requirement in relevant law.
Who sponsors VA SB 697?
Tammy Brankley Mulchi is the primary sponsor of VA SB 697.
Description
Sales and use tax; dealer discount. Provides that the state retail sales and use tax dealer discount percentages allowed from the first three percent of such tax imposed shall be (i) eight percent for monthly taxable sales between $0 and $30,000; (ii) four percent for monthly taxable sales between $30,001 and $62,500; (iii) 1.2 percent for monthly taxable sales between $62,501 and $208,000; and (iv) 0.8 percent for monthly taxable sales of $208,001 and above. Under current statutory law, such dealer discount percentages are (a) four percent for monthly taxable sales between $0 and $62,500; (b) three percent for monthly taxable sales between $62,501 and $208,000; and (c) two percent for monthly taxable sales of $208,001 and above. However, superseding budgetary provisions (1) limit such dealer discount percentages to (A) 1.6 percent for monthly taxable sales between $0 and $62,500; (B) 1.2 percent for monthly taxable sales between $62,501 to $208,000; and (C) 0.8 percent for monthly taxable sales of $208,001 and above and (2) suspend the discount entirely for dealers subject to the electronic funds transfer requirement in relevant law.
- Introduced
- 2026-01-14
- Latest action
- 2026-01-28 — Passed by indefinitely in Finance and Appropriations (10-Y 4-N)
- Bill type
- bill
- Last updated
- —
Sponsors
- Tammy Brankley Mulchiprimary
Committees
Not provided by source.
Action timeline
2026-01-14
Prefiled and ordered printed; Offered 01-14-2026 26100518D
filing,introduction
2026-01-14
Referred to Committee on Finance and Appropriations
referral-committee
2026-01-26
Fiscal Impact statement From TAX (1/26/2026 11:29 pm)
2026-01-28
Passed by indefinitely in Finance and Appropriations (10-Y 4-N)
deferral
Versions
Documents
Votes
Passed by indefinitely in Finance and Appropriations
2026-01-28 · pass · 10-4
Member-level votes (15)
- L. Louise Lucas: yes
- R. Creigh Deeds: yes
- Mamie E. Locke: yes
- David W. Marsden: yes
- Adam P. Ebbin: yes
- Ryan T. McDougle: no
- Mark D. Obenshain: no
- Richard H. Stuart: no
- Bryce E. Reeves: not voting
- Barbara A. Favola: yes
- Scott A. Surovell: yes
- Jeremy S. McPike: yes
- Jennifer B. Boysko: yes
- Todd E. Pillion: no
- 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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