Virginia · 2026 Regular Session · Bill
SB 696: Income tax, corporate; reduction of rate.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 696 is a bill introduced in the Virginia Senate on January 14, 2026. According to its official title, it concerns: Income tax, corporate; reduction of rate. Primary sponsor: Emily Jordan (Republican). Most recent recorded action (January 28, 2026): Passed by indefinitely in Finance and Appropriations (9-Y 4-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.
Corporate income tax rate; reduction. Reduces the corporate income tax rate by 1.25 percent each taxable year from the current six percent rate until the rate equals 2.25 percent for taxable year 2028 and thereafter.
Sponsors
Sponsors by party (alphabetical): Republican 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Emily Jordan | Primary sponsor | Republican | Senate | 17 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Passed by indefinitely in Finance and Appropriations (9-Y 4-N)
- Fiscal Impact statement From TAX (1/26/2026 10:52 am)
- Referred to Committee on Finance and Appropriations
- Prefiled and ordered printed; Offered 01-14-2026 26103137D