Education programs; allocation of unissued tax credits. (SB1167)

Introduced By

Sen. Bill DeSteph (R-Virginia Beach) with support from co-patron Del. Barry Knight (R-Virginia Beach)

Progress

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

Description

Tax credits related to education; aggregate cap. Allocates 20 percent of any unissued credits in a fiscal year under the Education Improvement Scholarships tax credit program to the Superintendent of Public Instruction to be allocated to education programs under the Neighborhood Assistance Act tax credit program during the next fiscal year. The 20 percent of unissued credits would be added to the current $9 million cap for education programs under the Neighborhood Assistance Act tax credit program. Amends § 58.1-439.20, § 58.1-439.26, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/09/2017Prefiled and ordered printed; offered 01/11/17 17101262D
01/09/2017Referred to Committee on Finance
01/22/2017Impact statement from TAX (SB1167)
01/31/2017Passed by indefinitely in Finance (14-Y 1-N) (see vote tally)