Bill
Bill > HB1155
summary
Introduced
01/14/2026
01/14/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Income tax subtraction; broadband grant fund awards. Establishes an individual and corporate income tax subtraction for any amount of public grant awards received in the taxable year for the exclusive purpose of planning, constructing, expanding, or improving upon broadband infrastructure and services in the Commonwealth beginning in taxable year 2025.
AI Summary
This bill establishes an income tax subtraction for both individuals and corporations in Virginia, starting with the 2025 tax year, for any public grant funds received specifically for the purpose of planning, constructing, expanding, or improving broadband infrastructure and services within the Commonwealth. This means that money received from government grants for these broadband projects will not be subject to state income tax, making it more financially attractive for entities to invest in and develop broadband access across Virginia.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Left in Finance (on 02/18/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/HB1155 |
| Fiscal Note/Analysis - Fiscal Impact statement From TAX (1/31/2026 8:01 pm) | https://lis.blob.core.windows.net/files/1105393.PDF |
| Fiscal Note/Analysis - Fiscal Impact statement From TAX (1/24/2026 4:41 pm) | https://lis.blob.core.windows.net/files/1096302.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/HB1155/text/HB1155 |
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