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Bill

SB 380

Income tax, corporate and state; subtraction for broadband grant fund awards.

2026 Regular Session Introduced by Jennifer Boysko

SB 380 allows Virginia broadband grant recipients to deduct award amounts from state income tax, reducing tax liability for individuals and corporations receiving grant funding.

Continued to next session in Finance and Appropriations (15-Y 0-N)
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Bill Summary · SB 380

Legislative bill overview

SB 380 would allow Virginia corporations and individuals who receive awards from the state's broadband grant fund to subtract those grant amounts from their taxable income. This creates a tax deduction specifically for broadband infrastructure grant recipients, reducing their state income tax liability.

Why is this important

Broadband infrastructure development is critical for rural and underserved communities, and tax incentives can reduce the net cost of grant recipients' projects, potentially encouraging more applications and faster deployment. However, the tax deduction represents foregone state revenue that could be offset by increased economic activity or must be absorbed by the state budget.

Potential points of contention

  • Revenue impact: The bill reduces state tax revenue without clear identification of offsetting savings, potentially straining Virginia's budget during the fiscal impact review process
  • Equity concerns: Tax benefits may disproportionately favor larger corporations with substantial grant awards over smaller recipients with equal infrastructure needs
  • Grant program design: Questions about whether tax deductions are the most effective incentive mechanism compared to direct subsidies or alternative broadband funding approaches

Compiled from official sources — confirm details with the bill’s official record.

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