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1998 SESSION
HB 608 Income tax deduction; obligations of Hi. Edu. Tuition Trust Fund.
Introduced by: William J. Howell | all patrons ... notes | add to my profiles
SUMMARY:
Income tax deduction; obligations of the Virginia Higher Education Tuition Trust Fund. Establishes an individual income tax deduction for the amount paid for a prepaid tuition contract entered into with the Virginia Higher Education Tuition Trust Fund, not to exceed $2,000 per contract in any taxable year. Unused portions of the deduction may be carried forward until the purchase price has been fully deducted. The deduction may be taken beginning in taxable years beginning on and after January 1, 1998, for contracts purchased between January 1, 1996, and January 1, 1998. The measure also requires the Governor to include in the budget bill a sum sufficient appropriation for the purpose of ensuring that the Fund can meet its current obligations for the payment of contract benefits or other obligations, maintenance of the Fund, and operating expenses for the current biennium.
FULL TEXT
- 01/21/98 House: Presented & ordered printed 985362809 pdf
- 03/18/98 House: Bill text as passed House and Senate (HB608ER) pdf
- 04/16/98 Governor: Acts of Assembly Chapter text (CHAP0373) pdf
HISTORY
- 01/21/98 House: Presented & ordered printed 985362809
- 01/21/98 House: Referred to Committee on Finance
- 01/22/98 House: Assigned to Finance sub-committee: 2
- 02/03/98 House: Reported from Finance (23-Y 0-N)
- 02/04/98 House: Referred to Committee on Appropriations
- 02/14/98 House: Reported from Appropriations (28-Y 0-N)
- 02/15/98 House: Read first time
- 02/16/98 House: Read second time and engrossed
- 02/17/98 House: Read third time and passed House (97-Y 2-N)
- 02/17/98 House: VOTE: PASSAGE (97-Y 2-N)
- 02/17/98 House: Communicated to Senate
- 02/19/98 Senate: Constitutional reading dispensed
- 02/19/98 Senate: Referred to Committee on Finance
- 03/03/98 Senate: Reported from Finance (16-Y 0-N)
- 03/04/98 Senate: Constitutional reading dispensed (39-Y 0-N)
- 03/04/98 Senate: VOTE: (39-Y 0-N)
- 03/04/98 Senate: Read third time
- 03/04/98 Senate: Passed Senate (39-Y 0-N)
- 03/04/98 Senate: VOTE: PASSAGE R (39-Y 0-N)
- 03/18/98 House: Bill text as passed House and Senate (HB608ER)
- 03/23/98 House: Enrolled
- 03/23/98 House: Signed by Speaker
- 03/25/98 Senate: Signed by President
- 04/11/98 Governor: Approved by Governor-Chapter 373 (effective 7/1/98)
- 04/16/98 Governor: Acts of Assembly Chapter text (CHAP0373)