Finance

Wednesday, February 25, 2026·23m·▶ Watch / Listen

The House Finance Committee advanced seven Senate bills, most unanimously, including a tax informant award program, a peanut excise tax extension, and an ABC payment modernization bill, while continuing a corporate tax administration bill to 2027 and referring several measures to Appropriations.

Key Actions

·SB 834 – Virginia Solar Energy and Battery Energy Storage Systems Program and Tax CreditNo Vote

+ 5 more actions

Controversies

Whether SB 302 (peanut excise tax) should be referred to Appropriations despite having no general fund impact

A delegate whose name was unclear in the transcript argued that because the subcommittee chair had stated SB 302 has no general fund impact, there was no reason to refer it to Appropriations. Madam Chair acknowledged she had exactly the same question but stated the committee had received a message requesting the referral and deferred to that request despite agreeing with the delegate's reasoning. No vote against the referral was recorded; the bill passed 18 to 0.

Notable Quotes

“The bill provides that such awards may be given only if the underlying or the underpaying individual taxpayers gross income exceeds 100,000 or the underpaying business taxpayers gross income exceeds 500,000 and the amount in question exceeds 50,000.”
Delegate Hernandez — Delegate Hernandez was presenting SB 224, which would authorize the Tax Commissioner to award compensation to individuals who report tax underpayment, and was describing the eligibility thresholds that must be met before any award can be given.

+ 4 more quotes

Votes

Report SB 224 with substitute, referred to AppropriationsPassed

Refer Senate Bill 834 to Appropriations without recommendationPassed

Refer Senate Bill 96 to Appropriations without recommendationPassed

Report Senate Bill 181 with substitutePassed

Report SB 302 and refer to AppropriationsPassed

Adopt amendment to Senate Bill 763 clarifying invoice documentation and tax liabilityNo Vote

Continue Senate Bill 763 to 2027No Vote

Report Senate Bill 788 with amendmentPassed

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TranscriptPreview

Members, take your seat. Clerk, please open the roll. Member, indicate your presence. Please close the roll. We have a quorum meeting. Comes to order of the full committee of House Finance Committee. And on the agenda our first point of business is the report from Subcommittee 1, Delegate Hernandez. Chair Hernandez, thank you so much. Madam chair. There are two bills in our subcommittee number one report, the first of which is SB224 from Senator Surovel dealing with a Tax Administration award for tax underpayment detection assistance. This bill authorizes the Tax Commissioner to award monetary compensation to individuals who provide information that assists the Department of Tax in the successful collection of delinquent state taxes owed by other individual or business taxpayers. The bill provides that such awards may be given only if the underlying or the underpaying individual taxpayers gross income exceeds 100,000 or the underpaying business taxpayers gross income exceeds 500,000 and the amount in question exceeds 50,000. The subcommittee recommended reporting with the substitute referring to appropriations and ISO move. If we could have the council please report whether the differences in the substitute. Thank you, Madam Chair. On lines beginning on line 24 of…

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