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1995 SESSION
LD7005212Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.2 as follows:§ 58.1-339.2. Political candidate contribution tax credit.
For taxable years beginning on and after January 1, [
1994 1995 ] , any individual shall be entitled to a
credit against the tax levied pursuant to § 58.1-320 of an amount equal to
fifty percent of the amount contributed by the taxpayer to a candidate, as
defined in § 24.2-101, in one or more primary, special, or general elections
for local or state office held in the Commonwealth in the taxable year in
which the contributions are made. The amount of the credit shall not exceed
fifty dollars for an individual taxpayer or $100 for taxpayers filing a joint
return.