Virginia · 2026 Regular Session · Bill
HB 977: Tax laws of the Commonwealth; conformity to the Internal Revenue Code.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 977 is a bill introduced in the Virginia House on January 13, 2026. According to its official title, it concerns: Tax laws of the Commonwealth; conformity to the Internal Revenue Code. Primary sponsor: Vivian Watts (Democratic). Most recent recorded action (February 18, 2026): Left in Committee Appropriations.
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.
Conformity of the tax laws of the Commonwealth to the Internal Revenue Code. Repeals rolling conformity and reestablishes fixed date conformity with the Internal Revenue Code as it existed on December 31, 2024, for Virginia income tax purposes beginning with taxable year 2025. Under current law, Virginia conforms to federal tax changes as soon as they are enacted by Congress, with certain exceptions. Virginia deconforms from any amendment that would increase or decrease general fund revenues by more than $15 million in the fiscal year in which the amendment was enacted or any of the succeeding four fiscal years. The $15 million threshold is adjusted for inflation annually beginning in 2024. Virginia also deconforms from all amendments occurring between adjournment sine die of the previous regular session and the first day of the subsequent regular session if the cumulative impact of such amendments would increase or decrease general fund revenues by more than $75 million in the fiscal year in which the amendments were enacted or any of the succeeding four fiscal years. Deconformity under rolling conformity does not apply to any federal tax changes that the General Assembly subsequently adopts or to any federal tax extender. However, the twelfth enactment of the 2025 Appropriation Act temporarily paused rolling conformity generally for any federal tax changes enacted on or after January 1, 2025, but before January 1, 2027, and thereby still required Virginia to conform to any federal tax changes that the General Assembly subsequently adopts and to any federal tax extenders.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Vivian Watts | Primary sponsor | Democratic | House | 14 |
“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 Committee Appropriations
- Committee substitute printed 26106211D-H1
- Reported from Finance with substitute and referred to Appropriations (22-Y 0-N)
- House committee offered
- Fiscal Impact statement From TAX (1/26/2026 12:40 pm)
- Fiscal Impact statement From TAX (1/26/2026 12:36 pm)
- House subcommittee offered
- House committee offered
- Referred to Committee on Finance
- Prefiled and ordered printed with emergency clause; Offered 01-14-2026 26103241D