Source: http://leg1.state.va.us/cgi-bin/legp504.exe?121+ful+SB680
Timestamp: 2018-08-19 15:23:08
Document Index: 629206552

Matched Legal Cases: ['§ 58', '§ 58', '§ 54', '§ 501', '§ 2701', '§ 36', '§ 58']

12104281D
SENATE BILL NO. 680 Offered January 26, 2012 A BILL to amend and reenact §§ 58.1-439.18 and 58.1-439.20 of the Code of Virginia, relating to the Neighborhood Assistance Act tax credits. ---------- Patron-- Wagner ---------- Unanimous consent to introduce ---------- Referred to Committee on Finance ----------
1. That §§ 58.1-439.18 and 58.1-439.20 of the Code of Virginia are amended and reenacted as follows:
"Commissioner of the State Department of Social Services" means the Commissioner of the State Department of Social Services or his designee.
"Community services" means any type of counseling and advice, emergency assistance, medical care, provision of basic necessities, or services designed to minimize the effects of poverty, furnished primarily to impoverished people.
"Contracting services" means the provision, by a business firm licensed by the Commonwealth as a contractor under Chapter 11 (§ 54.1-1100 et seq.) of Title 54.1, of labor or technical advice to aid in the development, construction, renovation, or repair of (i) homes of impoverished people or (ii) buildings used by neighborhood organizations.
"Education" means any type of scholastic instruction or scholastic assistance to an individual who is impoverished.
"Housing assistance" means furnishing financial assistance, labor, material, or technical advice to aid the physical improvement of the homes of impoverished people.
"Impoverished people" means individuals with family annual income not in excess of 200 percent of the current poverty guidelines for proposals submitted by a nonprofit entity requesting an allocation of tax credits under this article. The term "impoverished people" shall also include any resident of a nursing home or assisted living facility who is a Medicaid recipient.
"Job training" means any type of instruction to an individual who is impoverished that enables him to acquire vocational skills so that he can become employable or able to seek a higher grade of employment.
"Neighborhood organization" means any local, regional or statewide organization whose primary function is providing neighborhood assistance for impoverished people, and holding a ruling from the Internal Revenue Service of the United States Department of the Treasury that the organization is exempt from income taxation under the provisions of §§ 501(c)(3) and 501(c)(4) of the Internal Revenue Code of 1986, as amended from time to time, or any organization defined as a community action agency in the Economic Opportunity Act of 1964 (42 U.S.C. § 2701 et seq.), or any housing authority as defined in § 36-3.
B. The State Board of Social Services and the Board of Education are hereby authorized to adopt regulations (or, alternatively, guidelines in the case of the Board of Education) for the approval or disapproval of such proposals by neighborhood organizations and for determining the value of the donations. Such regulations or guidelines shall contain a requirement that an annual audit, review, or compilation as required by OMB Circular No. A-133 as may be applicable to nonprofit organizations be provided by the neighborhood organization as a prerequisite for approval. Such regulations or guidelines shall also provide that at least 50 40 percent of the persons served by the neighborhood organization are impoverished people as defined in § 58.1-439.18. Such regulations or guidelines shall provide for the equitable allocation of the available amount of tax credits among the approved proposals submitted by neighborhood organizations. The regulations or guidelines shall also provide that at least 10 percent of the available amount of tax credits each year shall be allocated to qualified programs proposed by neighborhood organizations not receiving allocations in the preceding year; however, if the amount of tax credits for qualified programs requested by such neighborhood organizations is less than 10 percent of the available amount of tax credits, the unallocated portion of such 10 percent of the available amount of tax credits shall be allocated to qualified programs proposed by other neighborhood organizations.