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State Government / Virginia / Legislation / HB 504

HB 504Session 2027HouseIn committee

Income tax, state; tax credit for certain small businesses.

Source-provided summary

Income tax; tax credit for certain small businesses. Establishes a one-time, nonrefundable tax credit for taxable years 2026 through 2030 for eligible small businesses, as defined in the bill, equal to $2,500. The bill limits the total aggregate amount of small business credits claimed to $5 million per taxable year.

Latest development · Jul 21, 2026

Continued from last session

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Source record ↗
Session
2027
Introduced
Jan 12, 2026
Latest passage
Date unavailable
TopicsSponsorsActionsRelated billsDiscussion

Topics and classification

Civixly topics

Budget & TaxesBusiness & Economy

Document type

Bill

Sponsors

Primary sponsors are listed before cosponsors and other sponsoring entities.

Primary sponsorJohn Chilton McAuliff

Action timeline

Newest action first. Action language is supplied by the state source.

View full action timeline7 actions⌄
  1. Jul 21, 2026

    Continued from last session

    House
  2. Feb 11, 2026

    Continued to next session in Finance (Voice Vote)

    House
  3. Feb 9, 2026

    Subcommittee recommends continuing to (Voice Vote)

    House
  4. Feb 8, 2026

    Fiscal Impact statement From TAX (2/8/2026 1:29 pm)

    House
  5. Feb 5, 2026

    Assigned HFIN sub: Subcommittee #1

    Referral CommitteeHouse
  6. Jan 12, 2026

    Referred to Committee on Finance

    Referral CommitteeHouse
  7. Jan 12, 2026

    Prefiled and ordered printed; Offered 01-14-2026 26103087D

    FilingIntroductionHouse

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State legislative data provided by Open States and linked legislature sources when available.

Civixly tracks state bill actions, passage dates, and sponsors. Member-level state roll-call histories are not included.

Source data last updated Oct 27, 2026.