Virginia · 2026 Regular Session · Bill
HB 1461: Income tax, state & corporate; microchip & semiconductor manufacturing & supply chain tax credits.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 1461 is a bill introduced in the Virginia House on January 23, 2026. According to its official title, it concerns: Income tax, state & corporate; microchip & semiconductor manufacturing & supply chain tax credits. Primary sponsor: Margaret A. Franklin. Most recent recorded action (February 11, 2026): Tabled in Finance (19-Y 2-N).
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Microchip and semiconductor manufacturing and supply chain tax credits; Virginia Economic Development Partnership Authority evaluation; report. Creates a series of individual and corporate income tax credits for companies engaged in the microchip and semiconductor manufacturing and supply chain business that between January 1, 2026, and December 31, 2036, (i) invest at least $400 million, (ii) create at least 100 new jobs, (iii) pay an average prevailing wage salary, and (iv) submit a plan for use of and committing $50 million of community investments. The bill creates three refundable tax credits in taxable years 2026 through 2030 in amounts equal to (a) five percent of capital investment expenditures incurred during the year, (b) six percent of child care services expenditures incurred during the year, and (c) 7.5 percent of gross wages paid for each new job created during the year.
Sponsors
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Margaret A. Franklin | Primary sponsor | Not applicable (committee) | — | — |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Tabled in Finance (19-Y 2-N)
- Assigned HFIN sub: Subcommittee #1
- Fiscal Impact statement From TAX (2/4/2026 7:44 pm)
- Referred to Committee on Finance
- Presented and ordered printed 26106032D