Vote Smart's Synopsis:

Vote to pass a bill that establishes a tax credit for businesses that make certain charitable donations.

Highlights:

• Establishes a tax credit for businesses equal to 70 percent of a monetary contribution to a nonprofit organization that provides scholarships to private schools for low-income students residing in Virginia that meet the following criteria (Sec. 1):
• Have been enrolled in the Virginia public school system for the year prior to receiving a scholarship;
• Have been prior recipients of scholarships;
• Are eligible to enter kindergarten or first grade; or
• Were not residents of Virginia during the preceding school year.

• Specifies that the total amount of tax credits granted cannot exceed $25 million per fiscal year (Sec. 1).

• Requires the tax credits to be granted on a first-come, first-served basis (Sec. 1).

• Del. Robert Lee Ware, Jr., was recorded as voting "Yea" but intended to vote "Nay".

Full Bill Text