RICHMOND, VA - The Office of Virginia Governor Glenn Youngkin is reporting that on Friday, September 9th, 2022, Governor Youngkin ceremonially signed two Day One Game Plan Bills reducing state income taxes for Virginia’s Military and Veteran Community. SB 528 patroned by Senator Bryce Reeves, R-Spotsylvania and HB 1128, patroned by Delegate John McGuire, R-Goochland, creates a state income tax deduction for military retirement income for veterans age 55 and older at a phased in rate of $10,000 in taxable year 2022, $20,000 in taxable year 2023, $30,000 in taxable year 2024, and up to $40,000 in taxable year 2025.