Nonprofit organizations; tax credits for donations to those assisting low-income families, etc. (SB1227)

Introduced By

Sen. Bill Stanley (R-Moneta)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Tax credits for donations to nonprofits providing assistance to low-income families. Makes several changes to the Neighborhood Assistance Act Tax Credit and Education Improvement Scholarships Tax Credits program including (i) allowing tax credits for donations of marketable securities under the Education Improvement Scholarships Tax Credits program, (ii) changing reporting requirements to the Department of Education, changing the time frame for scholarship foundations to disburse moneys for scholarships, and changing the penalties for failing to make such reports and disbursements under the Education Improvement Scholarships Tax Credits program, (iii) for both programs, establishing $125,000 as the maximum annual amount of donations by an individual for which tax credits may be issued, and (iv) for both programs, extending the expiration date through the 2027 taxable year. The bill also makes several other technical changes.

Read the Bill »


Bill Has Passed


01/09/2013Prefiled and ordered printed; offered 01/09/13 13101192D
01/09/2013Referred to Committee on Finance
01/21/2013Impact statement from TAX (SB1227)
01/23/2013Reported from Finance with substitute (9-Y 4-N 1-A) (see vote tally)
01/23/2013Committee substitute printed 13104309D-S1
01/24/2013Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/25/2013Read second time
01/25/2013Reading of substitute waived
01/25/2013Committee substitute agreed to 13104309D-S1
01/25/2013Engrossed by Senate - committee substitute SB1227S1
01/28/2013Read third time and passed Senate (20-Y 19-N) (see vote tally)
01/28/2013Reconsideration of passage agreed to by Senate (38-Y 2-N) (see vote tally)
01/28/2013Passed Senate (21-Y 19-N) (see vote tally)
02/02/2013Placed on Calendar
02/02/2013Read first time
02/02/2013Referred to Committee on Finance
02/04/2013Assigned Finance sub: #3
02/07/2013Impact statement from TAX (SB1227S1)
02/08/2013Subcommittee recommends reporting with amendment(s) (5-Y 0-N)
02/11/2013Reported from Finance with amendments (16-Y 5-N) (see vote tally)
02/12/2013Read second time
02/13/2013Delegates: Massie, Greason, Howell, A.T.
02/13/2013Read third time
02/13/2013Committee amendments agreed to
02/13/2013Engrossed by House as amended SB1227
02/13/2013Passed House with amendments (69-Y 30-N)
02/13/2013VOTE: PASSAGE (69-Y 30-N) (see vote tally)
02/13/2013House amendments rejected by Senate (4-Y 35-N) (see vote tally)
02/13/2013House insisted on amendments
02/13/2013House requested conference committee
02/13/2013Senate acceded to request (35-Y 4-N) (see vote tally)
02/13/2013Conferees appointed by Senate
02/13/2013Senators: Stanley, McWaters, Carrico
02/13/2013Conferees appointed by House
02/13/2013Delegates: Massie, Greason, Howell, A.T.,Jr.
02/20/2013Conference report agreed to by Senate (31-Y 9-N) (see vote tally)
02/20/2013Reconsideration of conference report agreed to by Senate (39-Y 0-N) (see vote tally)
02/20/2013Conference report agreed to by Senate (23-Y 17-N) (see vote tally)
02/21/2013Conference report agreed to by House (64-Y 33-N)
02/21/2013VOTE: ADOPTION (64-Y 33-N) (see vote tally)
02/23/2013Bill text as passed Senate and House (SB1227ER)
02/23/2013Signed by President
02/23/2013Signed by Speaker
03/08/2013Impact statement from TAX (SB1227ER)
03/23/2013G Approved by Governor-Chapter 713 (effective - see bill)
03/23/2013G Acts of Assembly Chapter text (CHAP0713)


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 5 clips in all, totaling 6 minutes.