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2018 SESSION

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SB 579 Tax credits related to education; aggregate cap.

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

SUMMARY AS PASSED SENATE: (all summaries)

Tax credits related to education; aggregate cap. Allocates 20 percent of any unissued credits in a fiscal year under the Education Improvement Scholarships tax credit program to the Superintendent of Public Instruction to be allocated to education programs under the Neighborhood Assistance Act (§ 58.1-439.18 et seq.) tax credit program during the next fiscal year. The 20 percent of unissued credits would be added to the current $9 million cap for education programs under the Neighborhood Assistance Act tax credit program. The provisions of the bill are contingent on funding in a general appropriation act.


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