VIRGINIA LAW PORTAL

• Code of Virginia
• Virginia Administrative Code
• Constitution of Virginia
• Charters
• Authorities
• Compacts
• Uncodified Acts
• RIS Users (account required)

SEARCHABLE DATABASES

• Bills & Resolutions
  session legislation
• Bill Summaries
  session summaries
• Reports to the General Assembly
  House and Senate documents
• Legislative Liaisons
  State agency contacts

ACROSS SESSIONS

• Subject Index: Since 1995
• Bills & Resolutions: Since 1994
• Summaries: Since 1994

Developed and maintained by the Division of Legislative Automated Systems.

2004 SESSION

• | print version

HB 311 RS & U Tax; limits cert. percent. of reven. from nonprof. entity to be used for administrative cost.

Introduced by: Harry R. Purkey | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Tax exemptions for nonprofit entities. Adds items to the list of administrative costs, which may not exceed 40 percent of annual gross revenues.

SUMMARY AS INTRODUCED:

Tax exemptions for nonprofit entities. Adds an additional requirement for nonprofit entities seeking an exemption or renewing an exemption to ensure such entities use at least 60 percent of their annual gross revenues for charitable purposes. It also adds items to the list of administrative costs, which may not exceed 40 percent of annual gross revenues.