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.
2004 SESSION
HB 1036 Income tax, corporate; credit for opportun. for children who are at risk of educational failure.
Introduced by: Christopher B. Saxman | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Children At Risk in Education Tax Credit. Creates a tax credit to promote educational opportunities for children who are at risk of educational failure. Tax credits will be awarded to business entities for eligible contributions made to eligible nonprofit tuition assistance grant funding organizations. The amount of the credit is 25 percent of the eligible contribution, but may not exceed 75 percent of the tax liability of the business entity. The contributions may be awarded as grants for students' tuition in public and nonpublic schools. There is a $6 million cap on total tax credits awarded annually. The credit would be effective for taxable years beginning on and after January 1, 2005.
FULL TEXT
HISTORY
- 01/14/04 House: Presented & ordered printed, prefiled 01/14/04 047677496
- 01/14/04 House: Referred to Committee on Finance
- 01/20/04 House: Assigned to Finance sub-committee: 2
- 02/02/04 House: Reported from Finance with sub (12-Y 9-N)
- 02/02/04 House: Referred to Committee on Appropriations
- 02/03/04 House: Assigned to App. sub-committee: 11
- 02/13/04 House: Continued to 2005 in Appropriations (24-Y 1-N)