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2017 SESSION

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SB 1168 Neighborhood Assistance Act; reorganizes provisions of tax credit program.

Introduced by: Bill R. DeSteph, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Neighborhood Assistance Act Tax Credit program. Reorganizes the provisions of the Neighborhood Assistance Act Tax Credit program to set out separate sections for the portions of the program administered by the State Department of Social Services and the Department of Education. The requirements of the two components of the program differ slightly, and separating the provisions provides clarity in understanding the application and allocation process.

The bill modifies the requirement that at least 10 percent of all available tax credits be allocated to organizations that have not previously received tax credits by providing that the allocation for such organizations is required only if the General Assembly increases the amount of available credits year over year. The bill requires that the allocation be at least 10 percent of credits created by the increase rather than 10 percent of all available credits. Current law limits credits to $9 million for education proposals approved by the Superintendent of Public Instruction and $8 million for proposals approved by the Commissioner of Social Services.

The bill provides that, for proposals to the Department of Education, expenditures for teacher salaries shall count toward the requirement that at least 50 percent of a neighborhood organization's revenues be used to provide services to low-income persons or to eligible students with disabilities.


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