Income tax, state; tax credit for Neighborhood Assistance Act, Education Improvement Scholarships. (HB2431)

Introduced By

Del. Will Morefield (R-North Tazewell)

Progress

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

Description

Income tax credits; Neighborhood Assistance Act; Education Improvement Scholarships. Makes several amendments to expand the availability of the Neighborhood Assistance Act Tax Credit and Education Improvement Scholarships Tax Credits (EISTC). The bill makes subject to judicial appeal the decisions of the Department of Education and the Department of Social Services regarding the qualification of a scholarship foundation or the awarding of tax credits; currently, such decisions are final. The bill 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 allows certified public accountants to receive tax credits for donations of accounting services to scholarship organizations. The bill also authorizes scholarship foundations, which are the sole recipient of funding from the issuance of EISTC, to receive funding for scholastic assistance, defined in the bill as counseling or supportive services. Under current law, scholarship foundations may receive EISTC funding only for the purpose of providing scholarships. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/18/2023Presented and ordered printed 23103766D
01/18/2023Referred to Committee on Finance
01/25/2023Assigned Finance sub: Subcommittee #3
01/26/2023Impact statement from TAX (HB2431)
01/30/2023Subcommittee recommends reporting (6-Y 0-N)
02/01/2023Reported from Finance (13-Y 9-N) (see vote tally)
02/03/2023Read first time
02/06/2023Read second time and engrossed
02/07/2023Read third time and passed House (55-Y 44-N)
02/07/2023VOTE: Passage (55-Y 44-N) (see vote tally)
02/08/2023Constitutional reading dispensed
02/08/2023Referred to Committee on Finance and Appropriations
02/14/2023Reported from Finance and Appropriations (11-Y 5-N) (see vote tally)
02/14/2023Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/15/2023Read third time
02/15/2023Motion to recommit to committee agreed to (22-Y 18-N) (see vote tally)
02/15/2023Recommitted to Finance and Appropriations
02/16/2023Failed to report (defeated) in Finance and Appropriations (7-Y 8-N) (see vote tally)