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Bill

HB 1074

State taxation; numerous changes to the Commonwealth's tax structure.

2026 Regular Session Introduced by Phil Hernandez and 1 co-sponsor

HB 1074 would modify Virginia's tax structure through multiple unspecified provisions currently under committee review.

Assigned HFIN sub: Subcommittee #3
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Bill Summary · HB 1074

Legislative bill overview

HB 1074 proposes multiple modifications to Virginia's tax structure, though the specific provisions are not detailed in the available information. The bill was prefiled in January 2026 and is currently under review by the House Finance Committee's Subcommittee #3. Without access to the bill's full text, the exact nature and scope of these tax changes cannot be determined.

Why is this important

Tax structure changes directly affect state revenue collection, business operations, and individual taxpayer obligations across Virginia. Comprehensive tax reform can influence economic competitiveness, income distribution, and the state's ability to fund public services like education and infrastructure.

Potential points of contention

  • Revenue impact uncertainty – Without knowing specific provisions, stakeholders cannot assess whether the bill increases or decreases overall tax burdens, affecting both fiscal projections and political feasibility
  • Distribution of tax burden – Changes may shift taxes between income, sales, property, or corporate categories, creating winners and losers among different demographic and business groups
  • Implementation complexity – Numerous tax structure changes could create administrative challenges for the Department of Taxation and compliance difficulties for taxpayers

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

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