VA SB500 | 2020 | Regular Session

Status

Spectrum: Partisan Bill (Republican 3-0)
Status: Engrossed on January 31 2020 - 50% progression, died in committee
Action: 2020-03-03 - Left in Appropriations
Pending: House Appropriations Committee
Text: Latest bill text (Engrossed) [HTML]

Summary

Tax credit for teaching material expenses. Establishes an individual nonrefundable income tax credit of up to $250 for licensed teachers in taxable years beginning on or after January 1, 2020, but before January 1, 2025, for the purchase price of materials used in teaching public primary or secondary school students that were purchased during the taxable year, provided that such purchases were neither reimbursed nor claimed as a deduction on the teacher's federal income tax return. The total amount of tax credits available for a taxable year shall not exceed $1 million. If the amount of the credit exceeds the taxpayer's tax liability for the taxable year in which the teaching materials were purchased, such excess may be carried over for five years. The provisions of the bill are contingent on funding in a general appropriation act.

Tracking Information

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Title

Teaching material expenses; establishes a tax credit, effective clause.

Sponsors


Roll Calls

2020-02-19 - House - House: Reported from Finance with amendment (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2020-02-19 - House - House: Reported from Finance with amendment (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2020-02-17 - House - House: Subcommittee recommends reporting with amendment (9-Y 0-N) (Y: 9 N: 0 NV: 2 Abs: 0) [PASS]
2020-02-03 - Senate - Senate: Read third time and passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2020-01-30 - Senate - Senate: Constitutional reading dispensed (37-Y 0-N) (Y: 37 N: 0 NV: 3 Abs: 0) [PASS]
2020-01-29 - Senate - Senate: Reported from Finance and Appropriations with amendment (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2020-03-03HouseLeft in Appropriations
2020-02-19HouseReferred to Committee on Appropriations
2020-02-19HouseReported from Finance with amendment (22-Y 0-N)
2020-02-17HouseSubcommittee recommends referring to Committee on Appropriations
2020-02-17HouseSubcommittee recommends reporting with amendment (9-Y 0-N)
2020-02-13HouseAssigned Finance sub: Subcommittee #1
2020-02-12HouseReferred to Committee on Finance
2020-02-12HouseRead first time
2020-02-12HousePlaced on Calendar
2020-02-03SenateRead third time and passed Senate (40-Y 0-N)
2020-01-31SenatePrinted as engrossed 20102642D-E
2020-01-31SenateEngrossed by Senate as amended SB500E
2020-01-31SenateCommittee amendment agreed to
2020-01-31SenateReading of amendment waived
2020-01-31SenateRead second time
2020-01-30SenateConstitutional reading dispensed (37-Y 0-N)
2020-01-29SenateReported from Finance and Appropriations with amendment (15-Y 0-N)
2020-01-08SenateMoved from Finance to Finance and Appropriations due to a change of the committee name
2020-01-07SenateReferred to Committee on Finance and Appropriations
2020-01-07SenatePrefiled and ordered printed; offered 01/08/20 20102642D

Code Citations

ChapterArticleSectionCitation TypeStatute Text
581339.13(n/a)See Bill Text

Virginia State Sources


Bill Comments

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