VA HJR15

Directs the Department of Taxation, in cooperation with the Secretary of Finance, to study the impact of repealing Virginia's individual income tax and identify alternative revenue sources to replace it

Requires assessment of how the eight states without individual income taxes fund public services and the feasibility of similar approaches in Virginia

Study must evaluate policy options including adjusting tax rates, expanding the sales and use tax base, increasing excise taxes, and developing new revenue sources

Notes Virginia has a budget surplus exceeding $2 billion and fiscal year 2025 revenues exceeded forecasts by $572 million, with individual income tax being the largest general fund revenue source

Report and recommendations due to the Governor and General Assembly by the first day of the 2027 Regular Session, with study meetings completed by November 30, 2026