Virginia House Bill 974 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 8 2014 - 25% progression, died in committee
Action: 2014-02-03 - Continued to 2015 in Finance by voice vote
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Income tax credit; food crop donations to a food bank. Establishes an individual and corporate income tax credit beginning in 2014 for food crops that are grown and donated by a person to a nonprofit food bank. The credit would equal 30 percent of the fair market value of the food crops donated by the person during the taxable year, not to exceed an aggregate of $5,000 for any taxable year. The bill defines food crops as grains, fruits, nuts, or vegetables. The bill provides for any unused credit to be carried forward for five years. The credit would sunset on January 1, 2019.

Income tax, state and corporate; credit for food crop donations to a food bank.

Del. Benjamin Cline [R]

Date	Chamber	Action
2014-02-03	House	Continued to 2015 in Finance by voice vote
2014-01-31	House	Subcommittee recommends continuing to 2015 by voice vote
2014-01-28	House	Assigned Finance sub: Subcommittee #3
2014-01-08	House	Referred to Committee on Finance
2014-01-08	House	Prefiled and ordered printed; offered 01/08/14 14102701D

Chapter	Article	Section	Citation Type	Statute Text
58	1	322	(n/a)	See Bill Text
58	1	402	(n/a)	See Bill Text
58	1	439.12:11	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?141+sum+HB974
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+HB974+hil