Virginia 2026 Session Status: Introduced

SB139 — Income tax, state; subtraction for long-term capital gains from sale of principal residence.

Last action — Continued from last session

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  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House of Delegates
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced January 06, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Stalled 26% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • Introduced

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 1 recorded vote so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

The bill offers a subtraction for long-term capital gains from selling a principal residence for state income tax purposes.

This bill allows homeowners to subtract long-term capital gains from the sale of their principal residence when calculating state income tax. This change could benefit those selling their homes by reducing their taxable income from the sale.

What this means for you
  • Families: This means families selling their homes could pay less in state income taxes on any profits from the sale.

Summary

Income tax, state; subtraction for long-term capital gains from sale of principal residence.

Bill Text

We don't have the full text on file for this bill yet.

Read SB139 on the official Virginia source →

How this bill changes current law

19 changes Share ↗

Compared against the Code of Virginia as published AI-generated reading aid — verify against the official bill.

This bill amends 1 section(s) of the Code of Virginia: 58.1-322.02.

  • 58.1-322.02

    32. For taxable years beginning on and after January 1, 2025, but before January 1, 20

    Inserts “32. For taxable years beginning on and after January 1, 2025, but before January 1, 20”.

  • 58.1-322.02

    3

    Inserts “3”.

  • 58.1-322.02

    0

    Inserts “0”.

  • 58.1-322.02

    ,

    Inserts “,”.

  • 58.1-322.02

    income

    Inserts “income”.

  • 58.1-322.02

    that (i)

    Inserts “that (i)”.

  • 58.1-322.02

    is

    Inserts “is”.

  • 58.1-322.02

    taxed as a long-term capital gain for federal income tax purposes

    Inserts “taxed as a long-term capital gain for federal income tax purposes”.

  • 58.1-322.02

    , (ii)

    Inserts “, (ii)”.

  • 58.1-322.02

    is

    Inserts “is”.

  • 58.1-322.02

    attributable to the

    Inserts “attributable to the”.

  • 58.1-322.02

    sale of a principal residence

    Inserts “sale of a principal residence”.

  • 58.1-322.02

    , and (iii)

    Inserts “, and (iii)”.

  • 58.1-322.02

    exceeds

    Inserts “exceeds”.

  • 58.1-322.02

    the limitations

    Inserts “the limitations”.

  • 58.1-322.02

    set forth in

    Inserts “set forth in”.

  • 58.1-322.02

    26 U.S.C. § 121

    Inserts “26 U.S.C. § 121”.

  • 58.1-322.02

    (b)

    Inserts “(b)”.

  • 58.1-322.02

    .

    Inserts “.”.

Action History

  1. S Continued to next session in Finance and Appropriations (13-Y 0-N)

  2. S Fiscal Impact statement From TAX (1/18/2026 4:58 pm)

  3. S Referred to Committee on Finance and Appropriations

  4. S Prefiled and ordered printed; Offered 01-14-2026 26103293D

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 147 not signed on

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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Continued to next session in Finance and Appropriations

Passed 13 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 13002
Total 13002
% of votes cast 87%0%0%13%
How each member voted (15)
Member Party Vote
Aaron R. Rouse — Yea
Adam P. Ebbin — Yea
Barbara A. Favola — Yea
Bryce E. Reeves — Not Voting
David W. Marsden — Not Voting
Jennifer B. Boysko — Yea
Jeremy S. McPike — Yea
L. Louise Lucas — Yea
Mamie E. Locke — Yea
Mark D. Obenshain — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Yea
Ryan T. McDougle — Yea
Scott A. Surovell — Yea
Todd E. Pillion — Yea

Official roll call →

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB139 do?
Income tax, state; subtraction for long-term capital gains from sale of principal residence.
Who sponsors SB139?
SB139 is sponsored by Jeremy S. McPike.
What is the current status of SB139?
This bill has been introduced in the Senate. Introduced January 06, 2026. It must pass committee before a floor vote.
Where can I track SB139?
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Last checked for changes 3 months ago · updated continuously

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