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1997 SESSION

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CHAPTER 302 An Act to amend the Code of Virginia by adding a section numbered 58.1-346.2:1, relating to voluntary contributions to a special fund for certain housing programs. [H 2030] Approved March 12, 1997

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 58.1-346.2:1 as follows:

§ 58.1-346.2:1. Housing program voluntary contribution.

A. Any individual eligible to receive a tax refund pursuant to § 58.1-309 may designate at the time of filing his return a specified dollar amount of such refund, such amount not to be less than one dollar, to be used by the Department of Housing and Community Development for the following purposes:

1. To provide assistance for emergency, transitional, and permanent housing for the homeless; and

2. To provide assistance to housing for the low-income elderly and for the physically or mentally disabled.

B. All moneys collected pursuant to this section or through voluntary payments by taxpayers designated for assistance to housing for the homeless, the low-income elderly and the disabled shall be deposited into the state treasury.

C. The Tax Commissioner shall determine annually the total amount designated on all state income tax returns and shall report the same to the State Treasurer, who shall credit that amount to a special fund known as the Virginia Tax Check-off for Housing Fund. All moneys so deposited in such fund shall be used by the Department of Housing and Community Development for the purposes set forth herein.

D. Funds made available to the Virginia Tax Check-off for Housing Fund may supplement but shall not supplant activities of the Virginia Housing Partnership Revolving Fund established pursuant to Chapter 9 (§ 36-141 et seq.) of Title 36 or those of the Virginia Housing Development Authority.

2. That the provisions of this act shall be effective for taxable years beginning on and after January 1, 1997, but before January 1, 2003.

3. That the Department of Taxation's direct costs of implementing the provisions of this act in fiscal year 1997-1998 shall be deducted from amounts designated as contributions under § 58.1-346.2:1 of the Code of Virginia.