SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2018 SESSION

  • | print version

SB 553 Education improvement scholarships tax credits; expands eligibility, payout penalty.

Introduced by: Siobhan S. Dunnavant | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Education improvement scholarships tax credits; eligibility; payout penalty. Expands the education improvement scholarships tax credits program by including as eligible scholarship recipients children who are eligible to enter pre-kindergarten. In addition, the bill reduces the penalty for failure to fully disburse all donations received from 200 percent of the difference between 90 percent of the value of the donations it received and the amount disbursed to 100 percent of the difference. Under current law, foundations must spend at least 90 percent of donations on scholarships in order to avoid the penalty. This bill was incorporated into SB 172.


FULL TEXT

HISTORY