Finance

Wednesday, January 28, 2026·47m·▶ Watch / Listen

The House Finance Committee advanced eight bills including the annual tax conformity bill (HB977), military benefits income tax deductions (HB137), and a wage garnishment reform (HB488), while carrying over a real property tax rate bill (HB68) to 2027. The conformity bill drew the most discussion, with public supporters urging passage as tax season had already begun.

Key Actions

·HB488 – Wage garnishment; state tax debtNo Vote

+ 6 more actions

Controversies

Rolling conformity versus annual conformity bill process (HB977)

Delegate McNamara raised ongoing support for rolling conformity, stating 'I didn't want to miss an opportunity to make a plug for rolling conformity,' and asked Ryan Cunningham of the Department of Taxation whether keeping rolling conformity would have produced a similar result. Cunningham responded Virginia would have ended up in a very similar place, but the committee proceeded with the annual conformity bill process.

+ 2 more controversies

Notable Quotes

“Virginia is not automatic conformity. We have always passed a bill that selects what we will conform to and what we won't conform to.”
Delegate Watts — Delegate Watts, patron of the annual tax conformity bill HB977, explained to the committee the nature of Virginia's conformity process as distinct from automatic rolling conformity with federal tax law.

+ 4 more quotes

Votes

Report HB137 with substitute and refer to Appropriations (initial vote)Passed

Report HB137 with substitute and refer to Appropriations (revote)Passed

Adopt substitute for HB488Passed

Report HB488 with substitutePassed

Report HB716, no amendments or substitutesPassed

Adopt second substitute for HB977Passed

Report HB977 with substitute and refer to AppropriationsPassed

Carry over HB68 to 2027No Vote

Adopt committee amendments for HB474Passed

Report HB474 as amendedNo Vote

Yes (14)Delegate Gardner, Delegate Callsen, Delegate Anthony, Delegate Bennett Walker, Delegate Sullivan, Delegate Hernandez, Delegate Ware, Delegate Fowler, Delegate McNamara, Delegate Maldonado, Delegate Pope Adams, Delegate Cole, Delegate Bolivar, Delegate Franklin

Absent (4)Delegate Walker, Delegate Carroll, Delegate Davis, Delegate Garrett

Report HB550, no amendmentsPassed

Yes (9)Delegate Callsen, Delegate Anthony, Delegate Bennett Walker, Delegate Sullivan, Delegate Hernandez, Delegate Watts, Delegate Cole, Delegate Bolivar, Delegate Franklin

No (2)Delegate Ware, Delegate Fowler

Absent (7)Delegate Gardner, Delegate Walker, Delegate Maldonado, Delegate Pope Adams, Delegate Carroll, Delegate Davis, Delegate Garrett

Adopt committee substitute for HB854Passed

Report HB854 with substituteNo Vote

Yes (11)Delegate Callsen, Delegate Anthony, Delegate Bennett Walker, Delegate Sullivan, Delegate Hernandez, Delegate Watts, Delegate Ware, Delegate Fowler, Delegate McNamara, Delegate Franklin, Delegate Davis

Absent (4)Delegate Gardner, Delegate Maldonado, Delegate Pope Adams, Delegate Garrett

Adopt reenactment clause amendment for HB960Passed

Report HB960 as amendedPassed

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TranscriptPreview

I don't turn my microphone on. The meeting of the full committee of House Finance will come to order. Clerk, please open the roll. Members, please indicate your attend. Please close the roll. We have a quorum on the agenda before us. The first bill listed is House Bill 987. And that's an administrative action where. Counsel, if you would report what we have been requested on this one. Do you have that before you? HB987, Garrett has been requested to be referred to. Yes, I believe the clerk would have that information as well. I think. I think this was requested that if we reported on it, we refer, but it is. It has not been acted on. So that was one of those report and refer which we have others. All right, thank you. Then the next item on the agenda is bills reported from Subcommittee one. Chairman Hernandez. Thank you, Madam Chair. Subcommittee number one met on Monday and makes the following following recommendations on the bills that were heard in subcommittee. First up is HB 137 from Delegate Fagans. And there's a substitute for that bill. With a substitute. And if all those in favor of…

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