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2013 SESSION
SB 1227 Nonprofit organizations; tax credits for donations to those assisting low-income families, etc.
Introduced by: William M. Stanley, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Tax credits for donations to nonprofits providing assistance to low-income families. Makes several changes to the Neighborhood Assistance Act Tax Credit and Education Improvement Scholarships Tax Credits programs including (i) allowing tax credits for donations of marketable securities under the Education Improvement Scholarships Tax Credits program, so long as such securities are sold by the recipient scholarship foundation within 14 days of receipt of the donation; (ii) changing reporting requirements to the Department of Education, changing the time frame for scholarship foundations to disburse moneys for scholarships, and changing the penalties for failing to make such reports and disbursements under the Education Improvement Scholarships Tax Credits program; and (iii) for the Neighborhood Assistance Act Tax Credit program, establishing $125,000 as the maximum annual amount of donations by an individual for which tax credits may be issued. The bill also makes several other technical changes.
FULL TEXT
- 01/09/13 Senate: Prefiled and ordered printed; offered 01/09/13 13101192D pdf | impact statement
- 01/23/13 Senate: Committee substitute printed 13104309D-S1 pdf | impact statement
- 02/23/13 Senate: Bill text as passed Senate and House (SB1227ER) pdf | impact statement
- 03/23/13 Governor: Acts of Assembly Chapter text (CHAP0713) pdf
AMENDMENTS
HISTORY
- 01/09/13 Senate: Prefiled and ordered printed; offered 01/09/13 13101192D
- 01/09/13 Senate: Referred to Committee on Finance
- 01/23/13 Senate: Reported from Finance with substitute (9-Y 4-N 1-A)
- 01/23/13 Senate: Committee substitute printed 13104309D-S1
- 01/24/13 Senate: Constitutional reading dispensed (39-Y 0-N)
- 01/25/13 Senate: Read second time
- 01/25/13 Senate: Reading of substitute waived
- 01/25/13 Senate: Committee substitute agreed to 13104309D-S1
- 01/25/13 Senate: Engrossed by Senate - committee substitute SB1227S1
- 01/28/13 Senate: Read third time and passed Senate (20-Y 19-N)
- 01/28/13 Senate: Reconsideration of passage agreed to by Senate (38-Y 2-N)
- 01/28/13 Senate: Passed Senate (21-Y 19-N)
- 02/02/13 House: Placed on Calendar
- 02/02/13 House: Read first time
- 02/02/13 House: Referred to Committee on Finance
- 02/04/13 House: Assigned Finance sub: #3
- 02/08/13 House: Subcommittee recommends reporting with amendment(s) (5-Y 0-N)
- 02/11/13 House: Reported from Finance with amendments (16-Y 5-N)
- 02/12/13 House: Read second time
- 02/13/13 House: Read third time
- 02/13/13 House: Committee amendments agreed to
- 02/13/13 House: Engrossed by House as amended
- 02/13/13 House: Passed House with amendments (69-Y 30-N)
- 02/13/13 House: VOTE: PASSAGE (69-Y 30-N)
- 02/13/13 Senate: House amendments rejected by Senate (4-Y 35-N)
- 02/13/13 House: House insisted on amendments
- 02/13/13 House: House requested conference committee
- 02/13/13 Senate: Senate acceded to request (35-Y 4-N)
- 02/13/13 Senate: Conferees appointed by Senate
- 02/13/13 Senate: Senators: Stanley, McWaters, Carrico
- 02/13/13 House: Conferees appointed by House
- 02/13/13 House: Delegates: Massie, Greason, Howell, A.T.,Jr.
- 02/20/13 Senate: Conference report agreed to by Senate (31-Y 9-N)
- 02/20/13 Senate: Reconsideration of conference report agreed to by Senate (39-Y 0-N)
- 02/20/13 Senate: Conference report agreed to by Senate (23-Y 17-N)
- 02/21/13 House: Conference report agreed to by House (64-Y 33-N)
- 02/21/13 House: VOTE: ADOPTION (64-Y 33-N)
- 02/23/13 Senate: Enrolled
- 02/23/13 Senate: Bill text as passed Senate and House (SB1227ER)
- 02/23/13 Senate: Signed by President
- 02/23/13 House: Signed by Speaker
- 03/23/13 Governor: Approved by Governor-Chapter 713 (effective - see bill)
- 03/23/13 Governor: Acts of Assembly Chapter text (CHAP0713)