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Virginia Education Improvement Tax Credit Introduced

Delegates Jimmie Massie (R-Henrico), Algie Howell (D-Norfolk) and Tag Greason (R-Loudoun) have introduced legislation (HB 2314) creating a new tax credit program to improve education for at-risk children. Corporations will be able to contribute to scholarship foundations and receive a 70 percent tax credit. In turn, those scholarship organizations must spend 90 percent or more on scholarships for low-income students to attend the nonpublic school of their choice. The bill is very similar to the successful 10-year-old Florida tax credit law.

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