Income tax, state; education tax credits. (SB189)
Introduced By
Sen. Steve Martin (R-Chesterfield)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Education tax credits. Allows individuals and businesses to claim a tax credit on their Virginia income tax return for contributions to Department of Taxation-approved nonprofit foundations that provide financial assistance to public schools for capital projects or provide scholarships to students in the Commonwealth. The total amount of credits available in any given year is capped at $50 million. In addition, an individual taxpayer may claim a credit for $800, or $1,200 if filing jointly, for education expenses paid for a dependent who is a student. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/10/2006 | Prefiled and ordered printed; offered 01/11/06 064236760 |
01/10/2006 | Referred to Committee on Finance |
01/22/2006 | Fiscal impact statement from TAX (SB189) |
01/31/2006 | Passed by indefinitely in Finance (15-Y 0-N) |