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2016 SESSION

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HB 1014 Neighborhood Assistance Act; increases maximum amount of tax credits that may be issued.

Introduced by: James P. "Jimmie" Massie, III | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Neighborhood Assistance Act tax credits. Increases from $9 million to $11 million the maximum amount of tax credits that may be issued each year by the Superintendent of Public Instruction for education-related programs and increases from $8 million to $11 million the maximum amount of tax credits that may be issued each year by the Commissioner of the State Department of Social Services for all other programs. The increases are effective beginning with fiscal year 2017.

In addition, the bill eliminates the requirement that at least 10 percent of the available amount of neighborhood assistance tax credits each year must be reserved for nonprofit organizations that did not receive an allocation of such credits in the preceding year.

FULL TEXT

• 01/13/16  House: Prefiled and ordered printed; offered 01/13/16 16101916D  pdf | impact statement

HISTORY

• 01/13/16  House: Prefiled and ordered printed; offered 01/13/16 16101916D
• 01/13/16  House: Referred to Committee on Finance
• 02/17/16  House: Left in Finance