Virginia · 2026 Regular Session · Bill
HB 588: Income tax, state; subtractions for military benefits.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 588 is a bill introduced in the Virginia House on January 13, 2026. According to its official title, it concerns: Income tax, state; subtractions for military benefits. Primary sponsor: Jason Ballard (Republican). It lists 1 additional sponsor. 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.
Individual income tax; subtractions; military benefits. Removes the cap on military benefits that may be subtracted from Virginia taxable income for taxable years beginning on and after January 1, 2026, allowing the total amount of such benefits to be subtracted from such income. Under current law, up to $40,000 of military benefits may be subtracted from Virginia taxable income.
Sponsors
Sponsors by party (alphabetical): Republican 2
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Jason Ballard | Primary sponsor | Republican | House | 42 |
| Will Davis | Co-sponsor | Republican | House | 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 (7-Y 2-N)
- Fiscal Impact statement From TAX (1/20/2026 11:39 am)
- Referred to Committee on Finance
- Prefiled and ordered printed; Offered 01-14-2026 26101424D