SEARCH SITE

Search FAQs

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2017 SESSION

  • | print version

HB 1433 Neighborhood Assistance Act Tax Credit; allocation to certain organizations.

Introduced by: Peter F. Farrell | all patrons    ...    notes | add to my profiles

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)

Neighborhood Assistance Act Tax Credit. 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 contains an emergency clause.


FULL TEXT

AMENDMENTS

HISTORY