Income tax, corporate; tax credits for donations to non-profit organizations, etc. (HB321)
Introduced By
Del. Jimmie Massie (R-Richmond) with support from 56 copatrons, whose average partisan position is:
Those copatrons are Del. Dave Albo (R-Springfield), Del. Rich Anderson (R-Woodbridge), Del. Dickie Bell (R-Staunton), Del. Rob Bell (R-Charlottesville), Del. Kathy Byron (R-Lynchburg), Del. Ben Cline (R-Amherst), Del. Mark Cole (R-Fredericksburg), Del. Barbara Comstock (R-McLean), Del. John A. Cox (R-Ashland), Del. Kirk Cox (R-Colonial Heights), Del. Matt Fariss (R-Rustburg), Del. Peter Farrell (R-Henrico), Del. Scott Garrett (R-Lynchburg), Del. Todd Gilbert (R-Woodstock), Del. Tag Greason (R-Potomac Falls), Del. Greg Habeeb (R-Salem), Del. Gordon Helsel (R-Poquoson), Del. Keith Hodges (R-Urbanna), Del. Algie Howell (D-Norfolk), Del. Bill Howell (R-Fredericksburg), Del. Sal Iaquinto (R-Virginia Beach), Del. Riley Ingram (R-Hopewell), Del. Chris Jones (R-Suffolk), Del. Terry Kilgore (R-Gate City), Del. Barry Knight (R-Virginia Beach), Del. Steve Landes (R-Weyers Cave), Del. Jim LeMunyon (R-Oak Hill), Del. Scott Lingamfelter (R-Woodbridge), Del. Manoli Loupassi (R-Richmond), Del. Bob Marshall (R-Manassas), Del. Danny Marshall (R-Danville), Del. Joe May (R-Leesburg), Del. Randy Minchew (R-Leesburg), Del. Rick Morris (R-Carrollton), Del. Bobby Orrock (R-Thornburg), Del. John O'Bannon (R-Richmond), Del. Chris Peace (R-Mechanicsville), Del. Brenda Pogge (R-Williamsburg), Del. Charles Poindexter (R-Glade Hill), Del. Bob Purkey (R-Virginia Beach), Del. Lacey Putney (I-Bedford), Del. David Ramadan (R-South Riding), Del. Margaret Ransone (R-Kinsale), Del. Roxann Robinson (R-Chesterfield), Del. Nick Rush (R-Christiansburg), Del. Beverly Sherwood (R-Winchester), Del. Chris Stolle (R-Virginia Beach), Del. Bob Tata (R-Virginia Beach), Del. Ron Villanueva (R-Virginia Beach), Del. Mike Watson (R-Williamsburg), Del. Michael Webert (R-Marshall), Del. Tony Wilt (R-Harrisonburg), Del. David Yancey (R-Newport News), Sen. John Cosgrove (R-Chesapeake), Sen. Chris Head (R-Roanoke), Sen. Mark Obenshain (R-Harrisonburg)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax; educational improvement scholarships tax credits. Establishes a credit beginning in taxable year 2012 for corporations donating cash or property to nonprofit organizations providing education improvement scholarships to students who would have been eligible for the free and reduced lunch program under federal law, in order for them to attend nonpublic elementary or secondary schools. Nonprofit organizations to which donations are made would be required to distribute at least 90 percent of their tax-credit-derived funds for such scholarships. The credit would equal 70 percent of the donation made by the corporation and would be refundable. Any corporation taking a charitable deduction on its federal income tax return would be required to add that amount back to its Virginia taxable income in order to receive the credit. There is a $25 million annual cap for the credits. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/10/2012 | Committee |
01/10/2012 | Prefiled and ordered printed; offered 01/11/12 12101085D |
01/10/2012 | Referred to Committee on Appropriations |
01/16/2012 | Referred from Appropriations |
01/16/2012 | Referred to Committee on Finance |
02/06/2012 | Impact statement from TAX (HB321) |
02/07/2012 | Assigned Finance sub: #3 |
02/10/2012 | Subcommittee recommends reporting with amendment(s) (4-Y 1-N) |
02/10/2012 | Reported from Finance with amendments (15-Y 7-N) (see vote tally) |
02/12/2012 | Read first time |
02/13/2012 | Read second time |
02/13/2012 | Committee amendments agreed to |
02/13/2012 | Engrossed by House as amended HB321E |
02/13/2012 | Printed as engrossed 12101085D-E |
02/14/2012 | Read third time and passed House (64-Y 35-N) |
02/14/2012 | VOTE: PASSAGE (64-Y 35-N) (see vote tally) |
02/15/2012 | Constitutional reading dispensed |
02/15/2012 | Referred to Committee on Finance |
02/20/2012 | Impact statement from TAX (HB321E) |
02/28/2012 | Committee substitute printed 12105687D-S1 |
02/28/2012 | Reported from Finance with substitute (8-Y 6-N) (see vote tally) |
02/29/2012 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
02/29/2012 | Read third time |
02/29/2012 | Reading of substitute waived |
02/29/2012 | Committee substitute agreed to 12105687D-S1 |
02/29/2012 | Engrossed by Senate - committee substitute HB321S1 |
02/29/2012 | Passed Senate with substitute (20-Y 20-N) (see vote tally) |
02/29/2012 | Chair votes Yes |
02/29/2012 | Placed on Calendar |
02/29/2012 | Passed by temporarily |
02/29/2012 | Senate substitute agreed to by House 12105687D-S1 (54-Y 37-N) |
02/29/2012 | VOTE: ADOPTION (54-Y 37-N) (see vote tally) |
03/05/2012 | Enrolled |
03/05/2012 | Bill text as passed House and Senate (HB321ER) |
03/05/2012 | Signed by Speaker |
03/07/2012 | Signed by President |
03/21/2012 | Impact statement from TAX (HB321ER) |
04/09/2012 | Governor's recommendation received by House |
04/17/2012 | Placed on Calendar |
04/18/2012 | House concurred in Governor's recommendation #'s 1, 2, 3 and 5 (58-Y 37-N) |
04/18/2012 | VOTE: ADOPTION (58-Y 37-N) (see vote tally) |
04/18/2012 | House rejected Governor's recommendation # 4 (1-Y 93-N) |
04/18/2012 | VOTE: REJECTED (1-Y 93-N) (see vote tally) |
04/18/2012 | Senate concurred in Governor's recommendation (19-Y 19-N) (see vote tally) |
04/18/2012 | Chair vote Yes |
04/18/2012 | G Governor's recommendation adopted in-part |
04/18/2012 | Communicated to Governor |
04/18/2012 | Reenrolled |
04/18/2012 | Reenrolled bill text (HB321ER2) |
04/18/2012 | Signed by Speaker as reenrolled |
04/18/2012 | Signed by President as reenrolled |
05/18/2012 | G Approved by Governor-Chapter 842 (effective 7/1/12) |
05/18/2012 | G Acts of Assembly Chapter text (CHAP0842) |