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2017 SESSION

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HB 1838 Neighborhood Assistance Act tax credits; process of allocating credits.

Introduced by: Robert D. Orrock, Sr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Neighborhood Assistance Act Tax Credit program; Board of Education. Requires any neighborhood organization submitting a proposal to the Superintendent of Public Instruction for an allocation of tax credits for the program year beginning July 1, 2017, to include with its proposal a list of all of the localities in which the organization provided services during the 2016 program year. The Department of Education shall aggregate the information and submit it to the Chairmen of the House Committees on Appropriations and Finance, the Senate Committee on Finance, and the Joint Subcommittee to Evaluate Tax Preferences.

SUMMARY AS PASSED HOUSE:

Neighborhood Assistance Act tax credits; Board of Education. Changes the process of allocating credits to neighborhood organizations submitting education proposals. The bill directs the Board of Education to develop regulations that (I) allocate one-half of the credits to neighborhood organizations with education proposals benefiting low-income persons and eligible students with disabilities in underperforming school districts in the Commonwealth, (ii) allow for the input of local leaders regarding the education needs of localities in which the proposed programs are located, and (iii) require the inclusion of performance and accountability measures in such proposals. The bill also allows the Board of Education to adopt regulations to be in effect by March 1, 2018, for the administration of the provisions of the bill. 

SUMMARY AS INTRODUCED:

Neighborhood Assistance Act tax credits; Board of Education. Changes the process of allocating credits to neighborhood organizations submitting education proposals. The bill directs the Board of Education to develop regulations that would allow credits to be prioritized for proposals benefiting underperforming school districts in the Commonwealth, that would allow for the input of local leaders regarding the education needs of localities in which the proposed programs are located, and that would require the inclusion of performance and accountability measures in the proposals. The bill also requires the Board of Education to adopt regulations for the administration of the program that would replace the current practice of the adoption of guidelines by the Department of Education.