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2006 SESSION

• | print version

SB 189 Income tax, state; education tax credits.

Introduced by: Stephen H. Martin | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Education tax credits.  Allows individuals and businesses to claim a tax credit on their Virginia income tax return for contributions to Department of Taxation-approved nonprofit foundations that provide financial assistance to public schools for capital projects or provide scholarships to students in the Commonwealth. The total amount of credits available in any given year is capped at $50 million. In addition, an individual taxpayer may claim a credit for $800, or $1,200 if filing jointly, for education expenses paid for a dependent who is a student.

FULL TEXT

• 01/10/06  Senate: Prefiled and ordered printed; offered 01/11/06 064236760  pdf | impact statement

HISTORY

• 01/10/06  Senate: Prefiled and ordered printed; offered 01/11/06 064236760
• 01/10/06  Senate: Referred to Committee on Finance
• 01/31/06  Senate: Passed by indefinitely in Finance (15-Y 0-N)