Virginia bills · 2026 Regular Session
Virginia SB 139
Income tax, state; subtraction for long-term capital gains from sale of principal residence.
- Introduced
- In committee
- Passed Senate
- Passed House
- To Governor
- Became law
Sponsors
- Jeremy S. McPike (Democratic)
Summary
Official abstract published by the Virginia legislature· SUMMARY AS INTRODUCED
Individual income tax subtraction; long-term capital gains from sale of principal residence. Provides an individual income tax subtraction in taxable years 2025 through 2029 for income that is (i) taxed as a long-term capital gain for federal income tax purposes, (ii) attributable to the sale of property that served as the taxpayer's principal residence for at least two of the five years preceding such sale, and (iii) in excess of federal limitations only allowing an exclusion from gross income for up to $250,000, or $500,000, for joint filers, of gain from such a sale.
Text versions
Roll-call votes
State vote data last updated Oct 15, 2026, 4:19 PM.
| Date | Vote | Result | Your legislators |
|---|---|---|---|
| Jan 28, 2026 Senate | Continued to next session in Finance and Appropriations | pass | Set your home in Virginia to see |
Actions
- Jan 28, 2026 · Senate
Continued to next session in Finance and Appropriations (13-Y 0-N) - Jan 18, 2026 · Senate
Fiscal Impact statement From TAX (1/18/2026 4:58 pm) - Jan 6, 2026 · Senate
Referred to Committee on Finance and Appropriations - Jan 6, 2026 · Senate
Prefiled and ordered printed; Offered 01-14-2026 26103293D