Virginia Senate Bill 131 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 5-0)
Status: Passed on April 9 2012 - 100% progression
Action: 2012-04-09 - Governor: Acts of Assembly Chapter text (CHAP0731)
Text: Latest bill text (Chaptered) [HTML]

Tax credits; assistance to low-income families; scholarships for K through 12 students attending private schools. Establishes a credit beginning in taxable year 2013 for individuals, business entities, and corporations making monetary donations to nonprofit organizations providing education improvement scholarships to students whose family's annual household income is not in excess of 300 percent of the current poverty guidelines and certain students with disabilities, in order for them to attend nonpublic elementary or secondary schools. Nonprofit organizations to which donations are made would be required to distribute at least 90 percent of such donations in the form of scholarships to such students. The credit would equal 65 percent of the donation made and any unused credit for the taxable year could be carried forward for five years. There is an annual cap of $25 million in tax credits for the scholarship program. The Department of Education would administer the tax credit program. The bill also expands the current Neighborhood Assistance Act Tax Credit program by increasing the tax credit percentage from 40 to 65 percent; raising the cap on education proposals from $4.9 million to $8 million, which has the effect of raising the total cap on the program from $11.9 million to $15 million; expanding the eligibility criteria for programs qualifying for tax credits to encompass programs providing services to certain students with disabilities and individuals whose family's annual household income is not in excess of 300 percent of the poverty guidelines; allowing unused credits at the end of the year to be distributed to neighborhood organizations that had previously met the $500,000 cap on tax credits; and extending the sunset for the program to July 1, 2017.

Income tax, corporate; tax credits for donations to non-profit organizations, etc.

Sen. Richard Black [R]	Sen. Ryan McDougle [R]	Sen. Mark Obenshain [R]	Sen. Ralph Smith [R]
Sen. William Stanley [R]

2012-02-29 - House - House: VOTE: PASSAGE (57-Y 40-N) (Y: 59 N: 40 NV: 3 Abs: 0) [PASS]
2012-02-27 - House - House: Reported from Finance (13-Y 8-N) (Y: 14 N: 8 NV: 1 Abs: 0) [PASS]
2012-02-17 - Senate - Senate: Read third time and passed Senate (20-Y 20-N) (Y: 20 N: 20 NV: 0 Abs: 0) [FAIL]
2012-02-14 - Senate - Senate: Reported from Finance with substitute (8-Y 7-N) (Y: 8 N: 7 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2012-04-09		Governor: Acts of Assembly Chapter text (CHAP0731)
2012-04-09		Governor: Approved by Governor-Chapter 731 (effective 7/1/12)
2012-03-07		Senate: Signed by President
2012-03-05		House: Signed by Speaker
2012-03-05		Senate: Bill text as passed Senate and House (SB131ER)
2012-03-05		Senate: Enrolled
2012-02-29		House: VOTE: PASSAGE (57-Y 40-N)
2012-02-29		House: Passed House (57-Y 40-N)
2012-02-29		House: Read third time
2012-02-28		House: Read second time
2012-02-27		House: Reported from Finance (13-Y 8-N)
2012-02-20		House: Assigned Finance sub: #3
2012-02-20		House: Referred to Committee on Finance
2012-02-20		House: Read first time
2012-02-20		House: Placed on Calendar
2012-02-17		Senate: Chair votes Yes
2012-02-17		Senate: Read third time and passed Senate (20-Y 20-N)
2012-02-16		Senate: Engrossed by Senate - committee substitute SB131S1
2012-02-16		Senate: Committee substitute agreed to 12105426D-S1
2012-02-16		Senate: Reading of substitute waived
2012-02-16		Senate: Read second time
2012-02-15		Senate: Read first time
2012-02-14		Senate: Incorporates SB241
2012-02-14		Senate: Committee substitute printed 12105426D-S1
2012-02-14		Senate: Reported from Finance with substitute (8-Y 7-N)
2012-01-10		Senate: Referred to Committee on Finance
2012-01-10		Senate: Prefiled and ordered printed; offered 01/11/12 12102635D

SB241 (Similar To) 2012-02-14 - Senate: Incorporated by Finance
HB321 (Same As) 2012-05-18 - Governor: Acts of Assembly Chapter text (CHAP0842)

Chapter	Article	Section	Citation Type	Statute Text
58	1	439.25	(n/a)	See Bill Text
58	1	439.28	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?121+sum+SB131
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+SB131+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+SB131S1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+SB131ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+CHAP0731+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+S05V0161+SB0131
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+SV0504SB0131+SB0131
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+H10V0298+SB0131
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+HV1219+SB0131