IN SB0260 | 2024 | Regular Session
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 5-3)
Status: Passed on March 13 2024 - 100% progression
Action: 2024-03-13 - Public Law 124
Text: Latest bill text (Enrolled) [PDF]
Spectrum: Slight Partisan Bill (Republican 5-3)
Status: Passed on March 13 2024 - 100% progression
Action: 2024-03-13 - Public Law 124
Text: Latest bill text (Enrolled) [PDF]
Summary
Neighborhood and individual development incentives. Defines a "community based organization" as a private, nonprofit corporation whose board of directors is comprised of business, civic, and community leaders, and whose principal purpose includes the provision of low income housing. (Current law limits administration, through a financial institution, of an account to community development corporations.) Provides that: (1) the first $1,500 (rather than $800) is eligible for a state deposit in an individual's account; (2) the allocation, for each account that has been established, for not more than five years, is $3 for each $1 of the first $1,500 (rather than the first $400) an individual deposited into the individual's account; and (3) the amount of the allocation may not exceed $4,500 (rather than $2,400) for each account. Makes various changes to the administration of and procedure for claiming the neighborhood assistance tax credit and the individual development account tax credit. Removes a reference to an obsolete tax.
Title
Neighborhood and individual development incentives.
Sponsors
| Sen. Vaneta Becker [R] | Sen. Jean Leising [R] | Sen. Lonnie Randolph [D] | Sen. James Tomes [R] |
| Rep. Ethan Manning [R] | Rep. Cindy Ledbetter [R] | Rep. Gregory Porter [D] | Rep. Justin Moed [D] |
Roll Calls
2024-03-07 - Senate - Senate - Conference Committee Report 1 (Y: 48 N: 0 NV: 0 Abs: 2) [PASS]
2024-03-06 - House - House - Rules Suspended. Conference Committee Report 1 (Y: 91 N: 0 NV: 2 Abs: 7) [PASS]
2024-02-27 - House - House - Third reading (Y: 95 N: 0 NV: 1 Abs: 4) [PASS]
2024-02-05 - Senate - Senate - Third reading (Y: 48 N: 0 NV: 0 Abs: 2) [PASS]
2024-03-06 - House - House - Rules Suspended. Conference Committee Report 1 (Y: 91 N: 0 NV: 2 Abs: 7) [PASS]
2024-02-27 - House - House - Third reading (Y: 95 N: 0 NV: 1 Abs: 4) [PASS]
2024-02-05 - Senate - Senate - Third reading (Y: 48 N: 0 NV: 0 Abs: 2) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-03-13 | Senate | Public Law 124 |
| 2024-03-13 | Senate | Signed by the Governor |
| 2024-03-12 | Senate | Signed by the President of the Senate |
| 2024-03-11 | House | Signed by the Speaker |
| 2024-03-08 | Senate | Signed by the President Pro Tempore |
| 2024-03-07 | Senate | Conference Committee Report 1: adopted by the Senate; Roll Call 301: yeas 48, nays 0 |
| 2024-03-06 | House | Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 308: yeas 91, nays 0 |
| 2024-03-06 | House | CCR # 1 filed in the House |
| 2024-03-06 | Senate | CCR # 1 filed in the Senate |
| 2024-02-29 | Senate | Senate advisors appointed: Hunley and Leising |
| 2024-02-29 | Senate | Senate conferees appointed: Becker and Randolph Lonnie M |
| 2024-02-29 | Senate | Senate dissented from House amendments |
| 2024-02-29 | Senate | Motion to dissent filed |
| 2024-02-29 | Senate | Concurrence withdrawn |
| 2024-02-29 | House | House advisors appointed: Ledbetter, Clere and Klinker |
| 2024-02-29 | House | House conferees appointed: Manning and Porter |
| 2024-02-28 | Senate | Motion to concur filed |
| 2024-02-28 | House | Returned to the Senate with amendments |
| 2024-02-27 | House | Third reading: passed; Roll Call 235: yeas 95, nays 0 |
| 2024-02-27 | House | Representative Moed added as cosponsor |
| 2024-02-26 | House | Second reading: ordered engrossed |
| 2024-02-22 | House | Committee report: amend do pass, adopted |
| 2024-02-20 | House | Representative Porter added as cosponsor |
| 2024-02-12 | House | First reading: referred to Committee on Ways and Means |
| 2024-02-06 | Senate | Referred to the House |
| 2024-02-05 | Senate | Senator Tomes added as coauthor |
| 2024-02-05 | Senate | Senator Leising added as second author |
| 2024-02-05 | Senate | Cosponsor: Representative Ledbetter |
| 2024-02-05 | Senate | House sponsor: Representative Manning |
| 2024-02-05 | Senate | Third reading: passed; Roll Call 113: yeas 48, nays 0 |
| 2024-02-01 | Senate | Senator Randolph added as coauthor |
| 2024-02-01 | Senate | Second reading: amended, ordered engrossed |
| 2024-02-01 | Senate | Amendment #1 (Baldwin) prevailed; voice vote |
| 2024-01-30 | Senate | Committee report: do pass, adopted |
| 2024-01-16 | Senate | First reading: referred to Committee on Tax and Fiscal Policy |
| 2024-01-16 | Senate | Authored by Senator Becker |
