The House Finance Subcommittee #2 met in the Virginia General Assembly on Tuesday, January 20, 2026. This week's docket includes 9 pieces of proposed legislation.
To view this week's House Finance Subcommittee #2 click here.
Below you will find the bill heard in this week's subcommittee hearing.
HB10 (Delegate McNamara) - Real property tax; classification of land and improvements.
Reclassifies improvements to real property as a separate class of real property and authorizes any locality to impose a real property tax on improvements to real property at a tax rate that is different than the rate applied to the land on which such improvements are located.
Tabled by a vote of 10-0.
HB68 (Delegate McNamara) - Real property; effect on rate when assessment results in tax increase, consideration of inflation.
Provides that, in determining a locality's total real property tax levies for purposes of determining the rate of levy that the locality shall impose upon such properties in order to produce no more than 101 percent of the previous year's real property tax levies.
Passed by for the day per patron.
HB72 (Delegate Cole, J.G.) - Real property tax; classification of land and improvements in City of Fredericksburg.
Authorizes the City of Fredericksburg to levy a tax on the improvements to real property at a different rate than the tax imposed upon the land on which it is located.
Passed and reported by a vote of 9-1.
HB175 (Delegate Feggans) - Real property; tax exemption, surviving spouses of members of Armed Forces who died in line of duty.
Authorizes localities by ordinance to provide a total exemption from real property taxes regardless of assessed value beginning in taxable year 2026 for surviving spouses of members of the Armed Forces who died in the line of duty.
Passed and reported by a vote of 10-0.
HB261 (Delegate Simonds) - Real property; tax classification of land and improvements in City of Newport News.
Authorizes the City of Newport News to levy a tax on the improvements to real property at a different rate than the tax imposed upon the land on which it is located.
Passed and reported by a vote of 8-1.
HB282 (Delegate Callsen) - Real property tax; classification of land and improvements, Charlottesville Falls Church
Authorizes the Cities of Charlottesville and Falls Church to levy a tax on the improvements to real property at a different rate than the tax imposed upon the land on which it is located.
Passed and reported by a vote of 9-1.
HB334 (Delegate Rasoul) - Additional local sales and use tax to support schools; referendum.
Authorizes all counties and cities to impose an additional local sales and use tax at a rate not to exceed one percent with the revenue used only for capital projects for the construction or renovation of schools if such levy is approved in a voter referendum.
Passed and reported by a vote of 8-2.
HB341 (Delegate Martinez) - Plastic bag tax; distribution to towns.
Requires that any town located within a county that has imposed a disposable plastic bag tax receive a distribution of revenues collected by the county based on the local sales tax distribution formula for appropriations to towns.
Passed and reported by a vote of 10-0.
HB345 (Delegate McLaughlin) - Real property tax; partial exemption for certain commercial and industrial structures.
Prohibits the application of a partial real property tax exemption to the demolition or replacement of an existing structure when such structure is a registered Virginia landmark or is determined by the Department of Historic Resources to contribute to the significance of a registered historic district.
Passed by for the day per patron.
The House Finance Subcommittee #2 meets weekly during the session on Tuesday, 4:30 p.m., House North Subcommittee Room -200, General Assembly Building. A link to the Live Stream video and recordings of all previously held committee meetings and floor sessions of the House can be viewed by clicking here.
Sofhia Pineda
VSBA Government Relations Specialist
