HB703

Virginia HB703 delays the effective date of sales tax exemptions on food and essential hygiene products.

Virginia HB703 amends the Code of Virginia to delay the effective date of sales tax exemptions on food purchased for human consumption and essential personal hygiene products. The bill specifies that these exemptions will not take effect until January 1, 2027. The tax revenue generated from these items will be distributed among cities and counties based on their pro rata share. The bill also outlines the criteria for localities to impose additional sales and use taxes for specific purposes, including capital projects for school construction or renovation.