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