2001 Regular Session

HOUSE BILL 1129

File Code: Taxes - Income
Sponsored By:
Delegates Phillips and Zirkin
Entitled:
Income Tax Credit - Monetary Contributions for Extracurricular Activities

Synopsis:

Allowing a credit against the State income tax for monetary contributions up to $500 made by individuals or corporations to State public schools for extracurricular activities or for equipment needed for extracurricular activities, subject to a specified limitation; providing for a specified reduction of itemized deductions if specified credits are claimed; providing for the carryover of unused credit; and applying the Act to tax years after 2000.

History by Legislative Date

House Action
2/9
First Reading Ways and Means
2/28
Hearing 3/14 at 1:00 p.m.
3/26
Unfavorable Report by Ways and Means
Senate Action
No Action
Sponsored by:
Delegate Wendell F. Phillips, District 41
Delegate Robert A. Zirkin, District 11
Bill indexed under the following Subjects:
EQUIPMENT -see also- MOTOR VEHICLE EQUIPMENT
GIFTS
INCOME TAX
PUBLIC SCHOOLS
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statutes:
Tax - General
( 10-218 , 10-722 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered