HB958 — Income tax, corporate; taxable income, net operating loss.
Last action — Continued from last session
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1Introduced
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2In Committee
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3Passed House of Delegates
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4Passed Senate
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5To Executive
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6Enacted
This bill has been introduced in the House of Delegates. Introduced January 13, 2026. It must pass committee before a floor vote.
Next likely step: a committee referral and hearing.
Odds of enactment
Low chanceBased on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.
Upgrade to see the exact probability and what's driving it.
A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.
Prognosis
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Introduced
Current position in the legislative process.
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1 sponsor
1 primary, 0 co-sponsors signed on.
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Cleared a recorded vote
Passed 4 recorded votes so far.
Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.
In plain language
This bill addresses corporate income tax and how net operating losses affect taxable income.
The bill modifies the treatment of net operating losses for corporate income tax purposes, impacting how businesses calculate their taxable income. This change may influence corporate tax liabilities and financial reporting.
What this means for you
- Small Business: This bill could affect how small businesses with net operating losses calculate their taxable income.
Summary
Income tax, corporate; taxable income, net operating loss.
Bill Text
We don't have the full text on file for this bill yet.
Read HB958 on the official Virginia source →Action History
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S Continued to next session in Finance and Appropriations (14-Y 1-N)
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S Referred to Committee on Finance and Appropriations
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S Constitutional reading dispensed (on 1st reading)
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H Read third time and passed House (96-Y 1-N 1-A)
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H Moved from Uncontested Calendar to Regular Calendar
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H Read second time and engrossed
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H Read first time
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H Reported from Finance (22-Y 0-N)
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H Placed on Finance Agenda
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H Subcommittee recommends reporting (9-Y 0-N)
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H Fiscal Impact statement From TAX (2/1/2026 11:34 pm)
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H Placed on Finance Agenda
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H Placed on Finance Agenda
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H Referred to Committee on Finance
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H Prefiled and ordered printed; Offered 01-14-2026 26102351D
Sponsors
- Vivian E. Watts · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 147 not signed on · 2 voted No
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (147)
147 members have not signed on to this bill.
Show all 147 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 14 | 1 | 0 | 0 |
| Total | 14 | 1 | 0 | 0 |
| % of votes cast | 93% | 7% | 0% | 0% |
How each member voted (15)
| Member | Party | Vote |
|---|---|---|
| Aaron R. Rouse | — | Yea |
| Barbara A. Favola | — | Yea |
| Bryce E. Reeves | — | Yea |
| Jennifer B. Boysko | — | Yea |
| Jeremy S. McPike | — | Yea |
| L. Louise Lucas | — | Yea |
| Lamont Bagby | — | Yea |
| Lashrecse D. Aird | — | Yea |
| Mamie E. Locke | — | Yea |
| Mark D. Obenshain | — | Yea |
| R. Creigh Deeds | — | Yea |
| Richard H. Stuart | — | Yea |
| Ryan T. McDougle | — | Nay |
| Scott A. Surovell | — | Yea |
| Todd E. Pillion | — | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 96 | 1 | 0 | 3 |
| Total | 96 | 1 | 0 | 3 |
| % of votes cast | 96% | 1% | 0% | 3% |
How each member voted (100)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 22 | 0 | 0 | 0 |
| Total | 22 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (22)
| Member | Party | Vote |
|---|---|---|
| Bonita G. Anthony | — | Yea |
| Chris S. Runion | — | Yea |
| Debra D. Gardner | — | Yea |
| Elizabeth B. Bennett-Parker | — | Yea |
| Gretchen M. Bulova | — | Yea |
| Hyland F. "Buddy" Fowler, Jr. | — | Yea |
| Joseph P. McNamara | — | Yea |
| Karen Keys-Gamarra | — | Yea |
| Katrina Callsen | — | Yea |
| Kimberly Pope Adams | — | Yea |
| Lindsey Dougherty | — | Yea |
| Margaret A. Franklin | — | Yea |
| Michelle Lopes Maldonado | — | Yea |
| Nicole Cole | — | Yea |
| Phil M. Hernandez | — | Yea |
| R. Lee Ware | — | Yea |
| Richard C. "Rip" Sullivan, Jr. | — | Yea |
| Stacey Annie Carroll | — | Yea |
| Thomas A. Garrett, Jr. | — | Yea |
| Vivian E. Watts | — | Yea |
| Wendell S. Walker | — | Yea |
| Will Davis | — | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 9 | 0 | 0 | 2 |
| Total | 9 | 0 | 0 | 2 |
| % of votes cast | 82% | 0% | 0% | 18% |
How each member voted (11)
| Member | Party | Vote |
|---|---|---|
| Bonita G. Anthony | — | Not Voting |
| Debra D. Gardner | — | Yea |
| Gretchen M. Bulova | — | Yea |
| Hyland F. "Buddy" Fowler, Jr. | — | Yea |
| Joseph P. McNamara | — | Not Voting |
| Katrina Callsen | — | Yea |
| Kimberly Pope Adams | — | Yea |
| Michelle Lopes Maldonado | — | Yea |
| Phil M. Hernandez | — | Yea |
| Vivian E. Watts | — | Yea |
| Will Davis | — | Yea |
Subjects
Frequently asked questions
- What does HB958 do?
- Income tax, corporate; taxable income, net operating loss.
- Who sponsors HB958?
- HB958 is sponsored by Vivian E. Watts.
- What is the current status of HB958?
- This bill has been introduced in the House of Delegates. Introduced January 13, 2026. It must pass committee before a floor vote.
- Where can I track HB958?
- Track HB958 free on One Click Politics — get push/email alerts when it moves.
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Last checked for changes 3 months ago · updated continuously
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