VA HB1004

Creates a $300 per-child tax credit for each dependent under 13 years of age, available to individuals or married couples filing jointly with Virginia adjusted gross income not exceeding $100,000

Applies as a one-time credit for taxable years beginning January 1, 2026, through January 1, 2031

Makes the credit fully refundable for Virginia residents, with refunds issued within 90 days of filing

Limits nonresidents to a nonrefundable credit that cannot exceed their Virginia income tax liability

Allows only one credit claim per qualifying dependent child