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SB 302

Peanuts; excise tax, sunset extended.

2026 Regular Session Introduced by Emily Jordan

Virginia extends peanut excise tax past expiration date to maintain ongoing state revenue from the commodity.

Fiscal Impact statement From TAX (4/1/2026 9:26 am)
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Bill Summary · SB 302

Legislative bill overview

SB 302 extends the sunset date for Virginia's existing excise tax on peanuts, preventing the tax from expiring. The bill has already passed the Virginia Senate with overwhelming support (39-1) and is now in the House Finance Committee for consideration.

Why is this important

Excise taxes on specific commodities generate dedicated revenue streams for state budgets. Extending this tax's sunset means continued funding for whatever program or general revenue this peanut tax supports, affecting both peanut producers/sellers and the state's fiscal planning.

Potential points of contention

  • Agricultural industry impact: Peanut farmers and sellers may argue the tax is burdensome and uncompetitive, particularly if neighboring states lack similar levies
  • Consumer cost implications: The tax likely increases peanut prices for Virginia consumers; the extent of this pass-through depends on market conditions
  • Rationale clarity: Without knowing the original purpose of this tax or what revenue it funds, there's a question of whether extending it remains justified or if those funds could come from broader taxation

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

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