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2001 SESSION

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SB 1214 Neighborhood assistance programs; tax credits.

Introduced by: Mary Margaret Whipple | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Neighborhood assistance programs; tax credits. Beginning January 1, 2002, donations by individuals under the Neighborhood Assistance Program shall be eligible for a tax credit in an amount equal to 45 percent of such monetary donation. A minimum monetary donation of $900 is required for eligibility for a tax credit beginning January 1, 2002, and the maximum tax credit that may be issued in a taxable year is capped at $750. Under current law, the tax credit issued is an amount equal to 100 percent of the monetary donation with $50 required as a minimum donation and $100 allowed as a maximum donation.


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