Bill > HB1470

This bill amends Virginia's income tax code to create a new tax deduction for union dues starting in the 2024 tax year. Specifically, the bill allows individual taxpayers to deduct the total amount of dues, fees, assessments, or other charges paid to a labor organization during the taxable year. The bill provides a broad definition of "labor organization" that includes any employee organization that participates in dealing with employers about workplace issues such as grievances, wages, hours, and working conditions. This means that workers who pay union membership fees can now reduce their Virginia state taxable income by the amount of those dues, potentially lowering their overall tax liability. The deduction applies to union members across various industries and sectors, and takes effect for tax years beginning on or after January 1, 2024.