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2020 SESSION

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SB 1012 Income tax, state; subtraction for certain low-income and middle-income students, effective clause.

Introduced by: Siobhan S. Dunnavant | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Individual income tax subtraction for certain low-income and middle-income students. Establishes an individual income tax subtraction starting in taxable year 2021 for any financial assistance received by a student through the Get Skilled, Get a Job, Give Back Program, which was included in the Governor's introduced budget and would offer financial assistance to low-income and middle-income Virginia residents. The provisions of the bill are contingent on funding in a general appropriation act.


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