Virginia · 2026 Regular Session · Bill
HB 378: Net investment income tax; imposes a tax on individuals, trusts, and estates.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 378 is a bill introduced in the Virginia House on January 12, 2026. According to its official title, it concerns: Net investment income tax; imposes a tax on individuals, trusts, and estates. Primary sponsor: Elizabeth Bennett-Parker (Democratic). Most recent recorded action (February 18, 2026): Left in Finance.
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.
Net investment income tax. Imposes a net investment income tax on individuals, trusts, and estates beginning in taxable year 2027. The tax is generally equal to 3.8 percent of the lesser of (i) net investment income, defined in the bill, for the taxable year or (ii) federal modified adjusted gross income, defined in the bill, for such taxable year reduced by $500,000.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Elizabeth Bennett-Parker | Primary sponsor | Democratic | Senate | 39 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Left in Finance
- Subcommittee recommends laying on the table (10-Y 0-N)
- House subcommittee offered
- Fiscal Impact statement From TAX (2/1/2026 10:04 am)
- Referred to Committee on Finance
- Prefiled and ordered printed; Offered 01-14-2026 26103780D