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Key Votes

SB 131 - Establishes Tax Deductions for Corporations - Key Vote

Virginia Key Votes

Toddy Puller voted Nay (Passage) on this Legislation.

Read statements Toddy Puller made in this general time period.

Stages

Family

Issues

Stage Details

Legislation - Became Law Without Governor's Signature (Executive) -
Legislation - Bill Passed (House) (57-40) -
Legislation - Bill Passed (Senate) (20-20) - (Key vote)

Title: Establishes Tax Deductions for Corporations

Vote Smart's Synopsis:

Vote to pass a bill that establishes tax deductions for individuals and corporations that donate to scholarship foundations for 5 years beginning January 1, 2013.

Highlights:
  • Establishes that an individual or corporation may be eligible for a tax deduction of up to 65 percent of the monetary donation made to a scholarship foundation in a single fiscal year (Sec. 1).
  • Limits tax deductions to donations of more than $500 (Sec. 1):
  • Individuals or married couples may not receive tax deductions in a single fiscal year of more than $50,000.
  • Limits tax deductions in a single fiscal year to no more than $25 million (Sec. 1).
  • Requires a scholarship foundation to disburse each donation for which a tax deduction may be received to the following (Sec. 1):
  • Students whose family’s annual household income is less than 300 percent of the current poverty guidelines; or
  • Eligible students with a disability:
  • Classified by the federal Individuals with Disabilities Education Act; and
  • Whose family's annual household income is less than 400 percent of the current poverty guidelines.
Note:

NOTE: THE LIEUTENANT GOVERNOR CAST A TIE-BREAKING VOTE ON THIS LEGISLATION.

Legislation - Introduced (Senate) -

Title: Establishes Tax Deductions for Corporations

Sponsors

Co-sponsors

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