Virginia Senate Bill 589 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 20 2016 - 100% progression
Action: 2016-04-20 - Governor: Acts of Assembly Chapter text (CHAP0767)
Text: Latest bill text (Chaptered) [HTML]

Education improvement scholarships tax credit; reporting and other requirements. Modifies the tax credit by (i) making the current required report based upon donations qualifying for the credit and scholarships awarded from such donations as of June 30 of the prior calendar year, (ii) increasing from 20 to 40 the number of days by which a scholarship foundation is required to return a preauthorization notice to the Department of Education to certify that a donor has completed his donation to the foundation, (iii) increasing from 14 to 21 the number of days by which a scholarship foundation must convert a donation of marketable securities into cash, and (iv) making clarifying and technical amendments.Under current law, a scholarship foundation must provide a report each year by September 30 to the Department of Education showing the total number and value of donations it received in its most recent fiscal year ended. Under the bill, every scholarship foundation will report on donations received in the 12-month period ending on June 30 of each year. This change will enable the Department of Education to determine whether a scholarship foundation has complied with the statutory requirement to disburse at least 90 percent of its tax-credit-derived funds received during each 12-month period ending on June 30 by the following June 30 for educational scholarships. The bill clarifies that the annual audit, review, or compilation required of a scholarship foundation receiving tax-credit-derived funds is for the foundation's most recent fiscal year ended. Finally, the bill eliminates (a) redundant reporting requirements relating to the total number and dollar value of donations received by a foundation and the total number and dollar amount of educational scholarships awarded by a foundation and (b) the requirement that a scholarship foundation report the percentage of first-time recipients to whom educational scholarships are awarded.

Education improvement scholarship tax credit program; extends time for disbursement of donations.

Sen. Mark Obenshain [R]

2016-04-20 - House - House: VOTE: ADOPTION (95-Y 0-N) (Y: 98 N: 0 NV: 5 Abs: 0) [PASS]
2016-04-20 - Senate - Senate: Senate concurred in Governor's recommendation (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 0) [PASS]
2016-03-04 - Senate - Senate: House substitute agreed to by Senate (28-Y 11-N) (Y: 28 N: 11 NV: 1 Abs: 0) [PASS]
2016-03-02 - House - House: VOTE: PASSAGE #2 (64-Y 35-N) (Y: 66 N: 36 NV: 1 Abs: 0) [PASS]
2016-03-02 - House - House: VOTE: PASSAGE (64-Y 34-N) (Y: 66 N: 35 NV: 2 Abs: 0) [PASS]
2016-02-29 - House - House: Reported from Finance with substitute (16-Y 6-N) (Y: 16 N: 6 NV: 0 Abs: 0) [PASS]
2016-02-08 - Senate - Senate: Read third time and passed Senate (36-Y 4-N) (Y: 36 N: 4 NV: 0 Abs: 0) [PASS]
2016-02-04 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2016-02-03 - Senate - Senate: Reported from Finance (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2016-04-20		Governor: Acts of Assembly Chapter text (CHAP0767)
2016-04-20	House	Enacted, Chapter 767 (effective 7/1/16)
2016-04-20	House	Signed by Speaker as reenrolled
2016-04-20	Senate	Signed by President as reenrolled
2016-04-20	Senate	Reenrolled bill text reprinted (SB589ER2)
2016-04-20	Senate	Reenrolled bill text (SB589ER2)
2016-04-20	Senate	Reenrolled
2016-04-20		Governor: Governor's recommendation adopted
2016-04-20	House	VOTE: ADOPTION (95-Y 0-N)
2016-04-20	House	House concurred in Governor's recommendation (95-Y 0-N)
2016-04-20	Senate	Senate concurred in Governor's recommendation (39-Y 0-N)
2016-04-06	Senate	Governor's recommendation received by Senate
2016-03-11		Governor: Governor's Action Deadline Midnight, Sunday, April 10, 2016
2016-03-11	Senate	Enrolled Bill Communicated to Governor on 3/11/16
2016-03-10	Senate	Signed by President
2016-03-08	House	Signed by Speaker
2016-03-08	Senate	Bill text as passed Senate and House (SB589ER)
2016-03-08	Senate	Enrolled
2016-03-04	Senate	Title replaced 16105900D-H1
2016-03-04	Senate	House substitute agreed to by Senate (28-Y 11-N)
2016-03-02	House	VOTE: PASSAGE #2 (64-Y 35-N)
2016-03-02	House	Passed House with substitute (64-Y 35-N)
2016-03-02	House	Reconsideration of House passage agreed to by House
2016-03-02	House	VOTE: PASSAGE (64-Y 34-N)
2016-03-02	House	Passed House with substitute (64-Y 34-N)
2016-03-02	House	Engrossed by House - committee substitute SB589H1
2016-03-02	House	Committee substitute agreed to 16105900D-H1
2016-03-02	House	Read third time
2016-03-01	House	Read second time
2016-02-29	House	Committee substitute printed 16105900D-H1
2016-02-29	House	Reported from Finance with substitute (16-Y 6-N)
2016-02-11	House	Referred to Committee on Finance
2016-02-11	House	Read first time
2016-02-11	House	Placed on Calendar
2016-02-08	Senate	Read third time and passed Senate (36-Y 4-N)
2016-02-05	Senate	Read second time and engrossed
2016-02-04	Senate	Constitutional reading dispensed (40-Y 0-N)
2016-02-03	Senate	Reported from Finance (15-Y 0-N)
2016-01-13	Senate	Referred to Committee on Finance
2016-01-13	Senate	Prefiled and ordered printed; offered 01/13/16 16103943D

HB1017 (Same As) 2016-04-20 - Governor: Acts of Assembly Chapter text (CHAP0751)

Chapter	Article	Section	Citation Type	Statute Text
58	1	439.28	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?161+sum+SB589
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+SB589+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+SB589H1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+SB589ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+SB589ER2+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+CHAP0767+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+S05V0058+SB0589
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+SV0201SB0589+SB0589
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+SV0230SB0589+SB0589
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+H10V0160+SB0589
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+HV1092+SB0589
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+HV1098+SB0589
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+SV0862SB0589+SB0589
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+SV1128SB0589+SB0589
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+HV1449+SB0589