SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1997 SESSION
SB 920 Neighborhood Assistance Act.
Introduced by: Walter A. Stosch | all patrons ... notes | add to my profiles
SUMMARY:
Neighborhood Assistance Act. Reduces the tax credit from 50 percent to 45 percent of the value of donations made by business firms to neighborhood organizations for approved programs. The minimum amount of tax credit that may be taken is increased from $50 to $400. Neighborhood organizations receiving allocations of tax credits from the Department of Social Services must have as their primary function the provision of community services, education, housing assistance, or job training to impoverished people. Neighborhood organizations are prohibited from pooling their credits or using their allocated credits for purposes other than as provided in the organization's program application. The $2.75 million increase in tax credits available under the Act, scheduled to take effect beginning July 1, 1998, is allocated for education programs to the extent eligible programs are approved. At least ten percent of the tax credit amounts will be allocated each year to qualified programs of neighborhood organizations which did not receive an allocation in the preceding year. The existing requirement that planning district commissions review program proposals is deleted. Business firms may receive tax credits by making donations to neighborhood organizations conducting approved programs; business firms will no longer be authorized to obtain tax credit allocations directly. The prohibition on self-employed professionals obtaining tax credits for donated professional services is repealed. Professional services donated by partners and sole proprietors will be eligible for tax credits. The value of services donated by certain physicians and dentists, who will continue to be eligible for credits though they are not business firms, and professional services donated by partners and sole proprietors, is limited to the lesser of the reasonable cost for similar services from other providers or $125 per hour.
FULL TEXT
- 01/15/97 Senate: Presented & ordered printed 975700743 pdf
- 01/24/97 Senate: Printed as engrossed 975700743-E pdf
- 03/04/97 Senate: Bill text as passed Senate and House (SB920ER) pdf
- 03/24/97 Governor: Acts of Assembly Chapter text (CHAP0640) pdf
AMENDMENTS
HISTORY
- 01/15/97 Senate: Presented & ordered printed 975700743
- 01/15/97 Senate: Referred to Committee on Finance
- 01/20/97 Senate: Assigned to Finance sub-committee:Econ. Dev. and Nat. Res.
- 01/22/97 Senate: Reported from Finance with amendments (17-Y 0-N)
- 01/23/97 Senate: Constitutional reading dispensed (39-Y 0-N)
- 01/23/97 Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
- 01/24/97 Senate: Read second time
- 01/24/97 Senate: Reading of amendments waived
- 01/24/97 Senate: Committee amendments agreed to
- 01/24/97 Senate: Engrossed by Senate as amended
- 01/24/97 Senate: Printed as engrossed 975700743-E
- 01/27/97 Senate: Read third time and passed Senate (39-Y 0-N)
- 01/27/97 Senate: VOTE: PASSAGE (39-Y 0-N)
- 01/27/97 Senate: Communicated to House
- 01/28/97 House: Placed on Calendar
- 01/29/97 House: Read first time
- 01/29/97 House: Referred to Committee on Finance
- 02/05/97 House: Assigned to Finance sub-committee: 1
- 02/11/97 House: Reported from Finance (22-Y 0-N)
- 02/12/97 House: Read second time
- 02/13/97 House: Read third time
- 02/13/97 House: Passed by for the day
- 02/14/97 House: Read third time
- 02/14/97 House: Amendments by Mr. Diamonstein agreed to
- 02/14/97 House: Amendment by Mr. Almand agreed to
- 02/14/97 House: Engrossed by House as amended
- 02/14/97 House: Passed House with amendments (100-Y 0-N)
- 02/14/97 House: VOTE: PASSAGE (100-Y 0-N)
- 02/18/97 Senate: Reading of amendments waived
- 02/18/97 Senate: House amendments rejected by Senate (0-Y 38-N)
- 02/18/97 Senate: VOTE: REJECT HOUSE AMENDMENT (0-Y 38-N)
- 02/19/97 House: House insisted on amendments
- 02/19/97 House: House requested conference committee
- 02/20/97 Senate: Senate acceded to request (40-Y 0-N)
- 02/20/97 Senate: VOTE: ACCEDE CONFERENCE COMM. (40-Y 0-N)
- 02/20/97 Senate: Conferees appointed by Senate
- 02/20/97 Senate: Senators: Stosch, Gartlan, Houck
- 02/20/97 House: Conferees appointed by House
- 02/20/97 House: Delegates: Rhodes, Diamonstein, Brickley
- 02/21/97 House: Conference report agreed to by House (98-Y 1-N)
- 02/21/97 House: VOTE: ADOPTION (98-Y 1-N)
- 02/21/97 Conference: House amendments rejected by conference committee
- 02/21/97 Conference: Amended by conference committee
- 02/21/97 Senate: Reading of conference report waived
- 02/21/97 Senate: Conference report agreed to by Senate (39-Y 0-N)
- 02/21/97 Senate: VOTE: CONFERENCE COMMITTEE RPT (39-Y 0-N)
- 03/04/97 Senate: Bill text as passed Senate and House (SB920ER)
- 03/11/97 Senate: Enrolled
- 03/12/97 House: Signed by Speaker
- 03/13/97 Senate: Signed by President
- 03/21/97 Governor: Approved by Governor-Chapter 640 (effective 7/1/97)
- 03/24/97 Governor: Acts of Assembly Chapter text (CHAP0640)