Education improvement scholarships tax credits; expands eligibility, payout penalty. (SB553)

Introduced By

Sen. Siobhan Dunnavant (R-Henrico)

Progress

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

Description

Education improvement scholarships tax credits; eligibility; payout penalty. Expands the education improvement scholarships tax credits program by including as eligible scholarship recipients children who are eligible to enter pre-kindergarten. In addition, the bill reduces the penalty for failure to fully disburse all donations received from 200 percent of the difference between 90 percent of the value of the donations it received and the amount disbursed to 100 percent of the difference. Under current law, foundations must spend at least 90 percent of donations on scholarships in order to avoid the penalty. This bill was incorporated into SB 172. Amends § 58.1-439.25, § 58.1-439.28, of the Code of Virginia. Read the Bill »

Status

01/23/2018: Incorporated into Another Bill

History

DateAction
01/09/2018Prefiled and ordered printed; offered 01/10/18 18102480D
01/09/2018Referred to Committee on Finance
01/22/2018Impact statement from DPB (SB553)
01/23/2018Incorporated by Finance (SB172-Stanley) (16-Y 0-N) (see vote tally)