Bill > HB2062

This bill amends Virginia's income tax code to permanently eliminate the sunset date (previously set for January 1, 2026) for a tax exclusion benefiting disabled veterans with federal student loan debt. Specifically, the bill allows eligible veterans who have been rated by the U.S. Department of Veterans Affairs as having a 100 percent service-connected, permanent, and total disability to exclude from their Virginia adjusted gross income any amount related to the discharge of federal student loan indebtedness. The change ensures that these veterans will continue to receive this tax benefit beyond the previously established expiration date. By removing the language restricting the exclusion to specific time periods and loan discharge descriptions, the bill simplifies the tax provision and provides ongoing financial relief for severely disabled veterans who have had their federal student loans discharged. The modification represents a continued commitment to supporting veterans who have sustained significant service-related disabilities by offering them a meaningful tax exemption.

Budget and Finance

https://lis.virginia.gov/bill-details/20251/HB2062