Income tax, state; credits for Neighborhood Assistance Program & Education Improvement Scholarships. (SB27)
Introduced By
Sen. Frank Ruff (R-Clarksville) with support from co-patrons Del. Margaret Ransone (R-Kinsale), and Del. Tommy Wright (R-Victoria)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
✓ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax credits; Neighborhood Assistance Program and Education Improvement Scholarships. Makes several amendments to expand the availability of the Neighborhood Assistance Program (NAP) and Education Improvement Scholarships Tax Credits (EISTC). The bill increases the limit on NAP credits approved by the Department of Education (DOE) from $9 million to $12 million and provides that the annual allocation of tax credits among neighborhood organizations shall not rely solely on the amount of credits awarded in the previous year. For the EISTC, the bill increases the value of the credit from 65 percent to 70 percent of the value of a donation and allows certified public accountants to receive tax credits for donations of accounting services to scholarship organizations. The bill also retains requirements and guidelines for eligible students with a disability that under current law were scheduled to expire on December 31, 2023. This bill incorporates SB 709. Read the Bill »
Outcome
History
Date | Action |
---|---|
12/22/2021 | Prefiled and ordered printed; offered 01/12/22 22100606D |
12/22/2021 | Referred to Committee on Finance and Appropriations |
01/27/2022 | Impact statement from TAX (SB27) |
02/03/2022 | Senate subcommittee amendments and substitutes offered |
02/05/2022 | Senate subcommittee amendments and substitutes offered |
02/08/2022 | Reported from Finance and Appropriations with substitute (15-Y 0-N) (see vote tally) |
02/08/2022 | Committee substitute printed 22106056D-S1 |
02/08/2022 | Incorporates SB709 (DeSteph) |
02/09/2022 | Passed by for the day |
02/09/2022 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
02/10/2022 | Read second time |
02/10/2022 | Reading of substitute waived |
02/10/2022 | Committee substitute agreed to 22106056D-S1 |
02/10/2022 | Engrossed by Senate - committee substitute SB27S1 |
02/10/2022 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
02/10/2022 | Passed Senate (40-Y 0-N) (see vote tally) |
02/18/2022 | Placed on Calendar |
02/18/2022 | Read first time |
02/18/2022 | Referred to Committee on Finance |
02/20/2022 | Impact statement from TAX (SB27S1) |
02/22/2022 | Assigned Finance sub: Subcommittee #1 |
02/23/2022 | Subcommittee recommends reporting (8-Y 0-N) |
02/23/2022 | Subcommittee recommends referring to Committee on Appropriations |
02/23/2022 | Reported from Finance (21-Y 0-N) (see vote tally) |
02/23/2022 | Referred to Committee on Appropriations |
02/28/2022 | Tabled in Appropriations (22-Y 0-N) (see vote tally) |
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