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2002 SESSION

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HB 645 Income tax; vol. contribution to War Mem. Assn. and D-Day Mem. Found.

Introduced by: James K. O'Brien, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Income tax; voluntary contribution cost of administration and voluntary contribution to the Virginia War Memorial Foundation and the National D-Day Memorial Foundation. For all taxable years beginning on or after January 1, 2003, provides that the Department of Taxation may retain up to five percent of all voluntary contributions made on individual income tax returns in a taxable year, not to exceed $50,000, to defray the Department's costs of administering voluntary contributions. Each organization receiving voluntary contributions will have a pro rata share deducted from its voluntary contribution payment from the Department. Also, for all taxable years beginning on or after January 1, 2003, but before January 1, 2008, allows any individual receiving a tax refund to designate at the time of filing his return a specified dollar amount of such refund, not less than one dollar, to be used by the Virginia War Memorial Foundation and the National D-Day Memorial Foundation. Any donations will be divided equally between the two foundations.


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