Conformity of the tax laws of the Commonwealth to the Internal Revenue Code. Repeals rolling conformity and reestablishes fixed date conformity with the Internal Revenue Code as it existed on December 31, 2024, for Virginia income tax purposes beginning with taxable year 2025. Under current law, Virginia conforms to federal tax changes as soon as they are enacted by Congress, with certain exceptions. Virginia deconforms from any amendment that would increase or decrease general fund revenues by more than $15 million in the fiscal year in which the amendment was enacted or any of the succeeding four fiscal years. The $15 million threshold is adjusted for inflation annually beginning in 2024. Virginia also deconforms from all amendments occurring between adjournment sine die of the previous regular session and the first day of the subsequent regular session if the cumulative impact of such amendments would increase or decrease general fund revenues by more than $75 million in the fiscal year in which the amendments were enacted or any of the succeeding four fiscal years. Deconformity under rolling conformity does not apply to any federal tax changes that the General Assembly subsequently adopts or to any federal tax extender. However, the twelfth enactment of the 2025 Appropriation Act temporarily paused rolling conformity generally for any federal tax changes enacted on or after January 1, 2025, but before January 1, 2027, and thereby still required Virginia to conform to any federal tax changes that the General Assembly subsequently adopts and to any federal tax extenders.