Last mentioned: Feb 23, 2026
Fiscal Year Start
Target date for the new budget and potential tax changes to take effect.
Sine Die
Scheduled adjournment of the 2026 General Assembly session.
Crossover Deadline
Expected deadline for chambers to finalize their respective budget versions.
Data Center Tax Focus
Analysis of the Senate plan reveals the intent to end the data center tax exemption.
Budget Proposals Released
House and Senate money committees unveil competing spending plans.
Crossover Deadline
The final day for bills to pass their house of origin; nearly 1,000 bills fail.
Gubernatorial Inauguration
A new administration takes office, shifting policy priorities.
Session Convenes
The Virginia General Assembly begins the 2026 legislative session.
Virginia Senate Democrats have introduced a budget proposal that would eliminate long-standing sales and use tax exemptions for data center equipment. This move, aimed at funding social programs, marks a significant reversal of the pro-business tax policies established under former Governor Glenn Youngkin.
Virginia legislative committees have unveiled a budget proposal that rolls back former Governor Glenn Youngkin's tax cuts, specifically targeting the lucrative sales and use tax exemptions for data centers. The move signals a pivot toward using corporate tax revenue to bolster social programs amid declining federal support.
Virginia Democrats have unveiled a budget proposal that seeks to eliminate the state's lucrative data center tax exemption to fund social programs. This marks a significant departure from the pro-incentive policies of the previous administration and could reshape the landscape for cloud infrastructure investment.
The Virginia General Assembly's 2026 crossover deadline has resulted in the failure of nearly 1,000 proposed measures, signaling a period of intense legislative friction. This mass expiration of bills provides a temporary reprieve for sectors facing new regulations in gaming, data center operations, and labor law.
The Virginia House of Delegates and State Senate have both passed legislation to legalize online casino gaming, known as iGaming. Despite initial procedural setbacks, the bills cleared their respective chambers ahead of the crossover deadline, potentially unlocking hundreds of millions in annual tax revenue.