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VA HB458

Bill

Official Source

Status

Introduced

1/12/2026

Primary Sponsor

Paul Krizek

Click for details

Origin

House of Delegates

2026 Regular Regular Session

AI Summary

  • Creates a Virginia income tax subtraction for broadband grant funds received by taxpayers beginning January 1, 2026, allowing exclusion from state taxable income
  • Defines "broadband grant funds" as monetary awards from federal, state, or local government sources provided exclusively for planning, constructing, expanding, or improving broadband infrastructure and services in Virginia
  • Applies to both individual income tax (§58.1-322.02) and corporate income tax (§58.1-402)
  • Excludes from the subtraction any income or interest derived from using broadband grant funds for purposes unrelated to improving broadband infrastructure and services
  • Introduced by Delegate Krizek and prefiled January 12, 2026, with committee referral pending

Legislative Description

Income tax, corporate and state; subtraction for broadband grant fund awards.

Last Action

Left in Finance

2/18/2026

Committee Referrals

Finance1/12/2026

Full Bill Text

No bill text available