Bill > HB2707

This bill creates a nonrefundable income tax credit for disabled veterans to help offset their toll charges in Virginia from 2025 to 2029. Specifically, the bill defines a "disabled veteran" as a U.S. Armed Forces veteran who has been rated by the Department of Veterans Affairs as having a 100 percent service-connected, permanent, and total disability. "Documented toll charges" are defined as fees paid for using toll bridges, ferries, tunnels, and roads in Virginia, with proper documentation. For each taxable year between 2025 and 2029, eligible disabled veterans can claim a tax credit equal to the lesser of their actual documented toll charges or $100. If the credit amount exceeds the veteran's tax liability for that year, the remaining credit can be carried forward and applied to income taxes in the next five consecutive years. The Tax Commissioner is required to develop guidelines for claiming this credit, and these guidelines will be exempt from the standard administrative process regulations. The purpose of this bill is to provide financial relief to disabled veterans by reducing their toll expenses.

Budget and Finance

https://lis.virginia.gov/bill-details/20251/HB2707