Income tax; imposition of tax and standard deduction. Adds, beginning in taxable year 2026, a new top income tax bracket such that a seven percent tax shall be imposed on Virginia taxable income in excess of $600,000. Current law imposes a top tax bracket of five and three-quarters percent on income in excess of $17,000. Additionally, the bill increases the standard deduction to $12,000 for single individuals and $24,000 for married individuals beginning in taxable year 2025 and indexes such deduction amount for inflation annually beginning in taxable year 2026.
Virginia Freedom of Information Act; virtual meetings; advisory boards, commissions, and councils. Allows advisory boards, commissions, and councils to convene all-virtual public meetings regardless of whether any such board, commission, or council convenes in-person meetings. Current law prohibits certain public bodies from convening an all-virtual public meeting (i) more than two times per calendar year or 50 percent of the meetings held per calendar year rounded up to the next whole number, whichever is greater, or (ii) consecutively with another all-virtual public meeting.
Virtual Virginia; availability to every public middle school in the Commonwealth. Requires Virtual Virginia to be made available to every public middle school in the Commonwealth. Under current law, Virtual Virginia is only required to be made available to every public high school in the Commonwealth.
Tax credit; purchase of asphalt recycling equipment for reprocessing existing asphalt materials from pavements and roadways; report. Creates a nonrefundable tax credit for taxable years 2025 and 2026 in an amount equal to 20 percent of the purchase price, as defined in the bill, paid during the taxable year for asphalt recycling equipment. The bill defines asphalt recycling equipment as machinery and equipment that is used to reclaim, recycle, or reprocess existing asphalt materials from pavements and roadways in the Commonwealth and that has been certified by the Department of Environmental Quality as being integral to the recycling process. The bill provides a $3 million aggregate annual cap on the number of credits to be distributed, as administered by the Department of Taxation, and an annual cap of 40 percent of the taxpayer's liability for taxes for any taxable year. Any credit not used for the taxable year in which the purchase price for recycling machinery was paid may be carried over for the next 10 years until the total credit amount is used. Finally, the bill requires the Department of Taxation, in consultation with the Department of Environmental Quality and the Department of Transportation, to submit a report to the Chairmen of the House Committee on Finance and Senate Committee on Finance and Appropriations no later than December 1, 2025, on the number of claims for such credit and any impact to environmental quality and pavement performance resulting from the use of asphalt recycling equipment.
Public schools; school libraries; catalog of print or digital materials available in school libraries and used as instructional materials; development, implementation, and maintenance. Requires the principal of each public elementary or secondary school or his designee to develop, implement, and maintain in an electronic spreadsheet or substantially similar electronic format a catalog of all print or digital materials, as defined in the bill, available in the school library and all instructional materials, as defined in the bill, used as a part of the school curriculum. The bill requires such catalog to (i) be developed and posted in a publicly accessible location on the school website in a searchable and downloadable format; (ii) identify each item by the item's title, author, and, if applicable, International Standard Book Number, or such other identifying features or information as the principal or his designee deems appropriate; and (iii) be maintained and updated as necessary to accurately reflect all print or digital materials available in the school library and any instructional materials used as a part of the school curriculum.
Income tax credit; advertising in local newspapers and media. Creates, for taxable years 2025 through 2029, a nonrefundable income tax credit for eligible small businesses with fewer than 50 employees for certain expenses incurred for local media advertising in a local newspaper or in a broadcast of a local radio or television station. The credit is equal to (i) for the first taxable year in which the credit is claimed, the lesser of 80 percent of the actual amounts paid or incurred for qualified local media advertising expenses or $4,000 and (ii) in subsequent taxable years, the lesser of 50 percent of the actual amounts paid or incurred for qualified local media advertising expenses during such taxable year or $2,000. The credit includes an aggregate cap of $10 million per taxable year.
Public institutions of higher education; certain grants from and partnerships and agreements with foreign countries of concern prohibited; report; civil penalty. Prohibits, except with the approval of the governing board of the institution of higher education or the State Council of Higher Education for Virginia under certain circumstances, any public institution of higher education from accepting any grant from or participating in any partnership or agreement with any foreign country of concern, as that term is defined in the bill. The bill requires the Council to establish and enforce mechanisms for compliance and penalties for noncompliance with such prohibition, which shall include civil penalties not to exceed $25,000 per offense and may include periodic institutional reporting until any such noncompliance is remedied by the institution. The bill requires each public institution of higher education, by December 1 of each year, to report to the General Assembly, the Governor, and the Council any grant that it accepted from or agreement or partnership in which it participated with a foreign country of concern during the previous fiscal year and the date on which such grant, agreement, or partnership is expected to terminate.
K-12 schools and institutions of higher education; student participation in women's sports; civil cause of action. Requires each interscholastic, intercollegiate, intramural, or club athletic team or sport sponsored by a public school, or any other school that is a member of the Virginia High School League, or by a public institution of higher education to be expressly designated as one of the following based on the biological sex of the students who participate on the team or in the sport: (i) males, men, or boys; (ii) females, women, or girls; or (iii) coed or mixed if participation on such team or sport is open to both males and females. The bill requires that the biological sex of any student seeking to participate on such an expressly designated team be affirmed by a signed physician's statement. The bill prohibits any such team or sport that is expressly designated for females from being open to students whose biological sex is male. The bill prohibits any government entity, licensing or accrediting organization, or athletic association or organization from entertaining a complaint, opening an investigation, or taking any other adverse action against any such school or institution of higher education based on a violation of the provisions of the bill and creates a cause of action for any school or institution of higher education that suffers harm as a result of a violation of the bill. Finally, the bill creates a civil cause of action for any student who suffers harm as a result of a knowing violation of a provision of the bill by a school or institution or as a result of the student's reporting a violation of a provision of the bill by a school, institution, athletic association, or organization.
Limitation on prosecution of felony due to lapse of time after finding of probable cause; exceptions; competency evaluation. Provides that the speedy trial statute is tolled for an evaluation to determine a defendant's competency to stand trial.
Public institutions of higher education; information for pregnant and parenting students. Requires each public institution of higher education to post in a publicly accessible manner on its website and include in orientation materials that are distributed to each new student information for pregnant and parenting students, including resources available to such students, the rights of and protections afforded to such students, and a description of the process for such students to file a grievance or complaint pursuant to Title IX.
Possession of marijuana, marijuana products, retail tobacco products, and hemp products intended for smoking by a person younger than 21 years of age prohibited; penalty. Provides that no person younger than 21 years of age shall consume or possess, or attempt to consume or possess, any marijuana, marijuana products, retail tobacco products, or hemp products intended for smoking, as such terms are defined in relevant law, and a violation of such prohibition is a Class 1 misdemeanor, with certain exceptions. The bill also allows any such person charged with his first offense of underaged possession of retail tobacco products or hemp products intended for smoking to have the proceedings deferred, to be placed on probation by the court, and to have the charges dismissed by the court without an adjudication of guilty upon such person's successful completion of probation.
Casino gaming; Tri-Cities Improvement Commission established. Establishes the Tri-Cities Improvement Commission, consisting of members from the Cities of Petersburg, Colonial Heights, and Hopewell and Dinwiddie and Prince George Counties, to receive disbursements of gaming tax revenues and to prioritize and fund certain improvements in those jurisdictions.
