Neighborhood Assistance Act; moves tax credit program to taxation. (HB680)

Introduced By

Del. Bob Hull (D-Falls Church) with support from co-patron Del. Frank Hall (D-Richmond)

Progress

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

Description

Neighborhood Assistance Act tax credit. Moves the Neighborhood Assistance Act Tax Credit program from Title 63.2 [Welfare (Social Services)] to Title 58.1 (Taxation) and provides a cross-reference to the tax credit program in Title 63.2 ( 63.2-2002). The bill also provides that in all cases the value of a donated motor vehicle for purposes of computing the neighborhood assistance tax credit shall be such value as determined under federal income tax laws. This would replace, in part, a current regulation that provides that the value for merchandise donated to a neighborhood organization that is not used by the organization but is sold, auctioned, or raffled by the organization, shall be the lesser of the value determined for federal tax purposes or the actual proceeds received by the neighborhood organization (22VAC40-41-40). Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/08/2008Committee
01/08/2008Prefiled and ordered printed; offered 01/09/08 082803552
01/08/2008Referred to Committee on Finance
01/15/2008Assigned Finance sub: 2
01/19/2008Impact statement from TAX (HB680)
02/04/2008Reported from Finance with substitute (20-Y 0-N) (see vote tally)
02/04/2008Committee substitute printed 082895552-H1
02/05/2008Read first time
02/06/2008Read second time
02/06/2008Committee substitute agreed to 082895552-H1
02/06/2008Engrossed by House - committee substitute HB680H1
02/07/2008Read third time and passed House (99-Y 0-N)
02/07/2008VOTE: --- PASSAGE (99-Y 0-N) (see vote tally)
02/07/2008Communicated to Senate
02/08/2008Constitutional reading dispensed
02/08/2008Referred to Committee on Finance
02/15/2008Impact statement from TAX (HB680H1)
02/26/2008Reported from Finance (16-Y 0-N) (see vote tally)
02/27/2008Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/28/2008Read third time
02/28/2008Passed Senate (40-Y 0-N)
03/03/2008Enrolled
03/03/2008Bill text as passed House and Senate (HB680ER)
03/04/2008Impact statement from TAX (HB680ER)
03/04/2008Signed by Speaker
03/04/2008Signed by President
03/12/2008G Approved by Governor-Chapter 585 (effective 7/1/08)
03/18/2008G Acts of Assembly Chapter text (CHAP0585)

Comments

VA A., tracking this bill in Photosynthesis, notes:

Delegate Hull's Bill