Neighborhood assistance tax credits; reduces amount of credit of value for certain donations. (HB578)

Introduced By

Del. Rob Bloxom (R-Accomack)

Progress

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

Description

Neighborhood Assistance Act tax credits; phase down credit value. Reduces the amount of the tax credit from 65 percent of the value of donations to neighborhood organizations for taxable years 2012 through 2017 to (i) 60 percent of such donations for taxable year 2018, (ii) 55 percent of such donations for taxable year 2019, and (iii) 50 percent of such donations for taxable years 2020 and thereafter. Amends § 58.1-439.21, § 58.1-439.24, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2018Committee
01/08/2018Prefiled and ordered printed; offered 01/10/18 18102469D
01/08/2018Referred to Committee on Finance
01/16/2018Assigned Finance sub: Subcommittee #2
01/16/2018Impact statement from TAX (HB578)
01/24/2018Subcommittee recommends continuing to 2019
02/13/2018Left in Finance