Neighborhood assistance; reduces tax credit. (HB1939)

Introduced By

Del. David Toscano (D-Charlottesville)

Progress

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

Description

Neighborhood assistance tax credits. Changes the Neighborhood Assistance Act Tax Credit Program by (i) reducing the tax credit from 65 to 60 percent of the value of donations to neighborhood organizations and (ii) increasing the annual cap on the value of donations by individuals that are eligible for credit from the first $125,000 of value to the first $135,500 of value. The provisions of the bill would become effective beginning with taxable year 2016. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/13/2015Committee
01/13/2015Prefiled and ordered printed; offered 01/14/15 15103237D
01/13/2015Referred to Committee on Finance
01/20/2015Assigned Finance sub: Subcommittee #2
01/20/2015Impact statement from TAX (HB1939)
01/21/2015Subcommittee recommends laying on the table
02/10/2015Left in Finance