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2005 SESSION

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SB 803 Income tax, state; voluntary contribution to various entities.

Introduced by: Henry L. Marsh III | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Income tax; voluntary refund contributions entities process changes. Explains the procedure for how voluntary refund contributions entities will be added to and removed from the income tax return beginning in 2005. Also adds Brown v. Board of Education Scholarship Program Fund, Dr. Martin Luther King, Jr. Commission Fund, and Virginia Caregivers Grant Fund to the list of entities entitled to voluntary contributions that appear on the individual income tax return form.

SUMMARY AS PASSED SENATE:

Voluntary contribution to the Dr. Martin Luther King, Jr. Commission Fund and to the Virginia Caregivers Grant Fund.  Allows individuals entitled to an income tax refund to contribute a portion, at least $1, or all of the refund to the Dr. Martin Luther King, Jr. Commission Fund for taxable years beginning on and after January 1, 2005. The Fund provides support for the work of the Dr. Martin Luther King, Jr. Memorial Commission and generates nonstate funds to maintain the Martin Luther King, Jr. Living History and Public Policy Center. The bill also allows taxpayers to contribute a portion, at least $1, of their income tax refund to the Virginia Caregivers Grant Fund.

SUMMARY AS INTRODUCED:

Voluntary contribution to the Dr. Martin Luther King, Jr. Commission Fund.  Allows individuals entitled to an income tax refund to contribute a portion, at least $1, or all of the refund to the Dr. Martin Luther King, Jr. Commission Fund for taxable years beginning on and after January 1, 2005. The Fund provides support for the work of the Dr. Martin Luther King, Jr. Memorial Commission and generates nonstate funds to maintain the Martin Luther King, Jr. Living History and Public Policy Center. The Center was created pursuant to State law that required a permanent memorial to be established to honor Dr. King in the Commonwealth and supported with nonstate funds. The programs and resources of the Center are made available to all citizens via the Commonwealth's vast technological infrastructure.

This bill is a recommendation of the Board of Trustees of the Martin Luther King, Jr. Living History and Public Policy Center and the Dr. Martin Luther King, Jr. Memorial Commission.