Income tax, state and corporate; subtraction for income from space leased to public schools. (HB1512)

Introduced By

Del. Rob Krupicka (D-Alexandria) with support from co-patron Sen. Scott Surovell (D-Mount Vernon)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Income tax subtraction; income from building space leased to public school divisions. Establishes an individual and corporate income tax subtraction beginning in 2013 for income from the lease of commercial or industrial space to a local public school division that used such space primarily to (i) provide instruction to K through 12 public school students or students in a publicly funded pre-kindergarten program or (ii) administer K through 12 public education programs or publicly funded pre-kindergarten education programs. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/03/2013Prefiled and ordered printed; offered 01/09/13 13101135D
01/03/2013Referred to Committee on Finance
01/12/2013Impact statement from TAX (HB1512)
01/14/2013Assigned Finance sub: #1
01/16/2013Subcommittee recommends passing by indefinitely
02/05/2013Left in Finance

Comments

Ann Rasmussen writes:

This is good bill for early ed proponents. Provides incentive for private commercial building owners to partner with public school divisions to expand space for pre-k. Limited physical space is an oft-cited reason why schools do not offer pre-k.