Bill > HB2305

This bill establishes a refundable income tax credit for eligible conceptions in Virginia for tax years 2025-2029. The credit provides $250 for each eligible conception, which includes pregnancies currently in gestation, resulting in a live birth, or ending in a spontaneous miscarriage or fetal death (not due to an induced termination). To qualify, individuals or married couples must have a family Virginia adjusted gross income at or below 400% of the federal poverty guidelines. The credit is limited to an aggregate of $25 million per tax year, with credits prorated if applications exceed that amount. If the credit amount exceeds the taxpayer's tax liability, the excess will be fully refunded by the Tax Commissioner within 90 days of filing the tax return. The bill defines detailed eligibility requirements, including that only one credit can be claimed per conception and specific rules for part-year residents and those with income from multiple sources. The Tax Commissioner will develop guidelines for claiming the credit, which will be exempt from typical administrative process regulations.

Budget and Finance

https://lis.virginia.gov/bill-details/20251/HB2305