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2016 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Wagner
NAP - Achievable Dream - Clarification tax credits (language only)

Item 138 #3s

Item 138 #3s

Education
Direct Aid to Public Education

Language

Page 110, line 8, after "Achieveable Dream Middle and High School, Inc." insert: "that would be allowable for a donation in said amount pursuant to § 58.1-439.21 and § 58.1-439.24.  The amount of credit allowed for a donation calued at $500,000 is $325,000 of Neighborhood Assistance Program Tax Credits, and accordingly, the Neighborhood Assistance Program Tax Credits available to An Achievable Dream Middle and High School Inc. shall be reduced by $325,000 in each of the first and second years from the Neighborhood Assistance Program Tax Credits for An Achievable Drem Middle and High School Inc.".



Explanation

(This amendment clarfies the amount of adjustment to the Neighborhood Assistance Program Tax Credits amount for the Achievable Dream schools.)