3-5.16#1h (Prohibit State Income Tax Deduction for Certain Charitable Contributions) Remove Language Prohibiting Use of Tax Credit and Deduction. HB1500

State Budget

2017 Session

Budget Amendments - HB1500 (Committee Approved)

Bill Order » Item 3-5.16 #1h

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Remove Language Prohibiting Use of Tax Credit and Deduction (language only)

Item 3-5.16 #1h

Item 3-5.16 #1h
Adjustments and Modifications to Tax Collections
Prohibit State Income Tax Deduction for Certain Charitable Contributions

Language

Page 531, strike lines 17 through 21.

Explanation

(This amendment eliminates a proposal contained in House Bill 1500 as introduced that would prohibit the use of both the Neighborhood Assistance Act or Educational Scholarship Tax Credits and tax deductions for charitable contributions to the same entities. The Governor assumed this action would generate $2.0 million to the general fund in fiscal year 2018. Separate legislation is being introduced to the 2017 General Assembly addressing this issue.)

Item 3-5.16

Item 3-5.16

§ 3-5.16 PROHIBIT STATE INCOME TAX DEDUCTION FOR CERTAIN CHARITABLE CONTRIBUTIONS

Notwithstanding any other provision of law, effective for taxable years beginning on and after January 1, 2017, any donation made for which a tax credit under Article 13.2 (§ 58.1-439.18 et seq.) or Article 13.3 (§ 58.1-439.25 et seq.) of Chapter 3 of Title 58.1 of the Code of Virginia is claimed by a taxpayer shall not also be eligible for treatment as a charitable contribution deduction for state income tax purposes in calculating a taxpayer's Virginia income tax liability.

State Budget

2017 Session

Budget Amendments - HB1500 (Committee Approved)

Remove Language Prohibiting Use of Tax Credit and Deduction (language only)

Item 3-5.16 #1h

Item 3-5.16 #1h

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2016 - 2018 Biennium

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2016 - 2018 Biennium

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Item 3-5.16