Action:
Amend the NAP tax credit program regulation to make technical and substantive changes.
Action 1740
General Information
Action Summary |
The purpose of the proposed action is to amend the regulation for the Neighborhood Assistance Program (NAP). NAP is a state tax credit program established by the General Assembly in 1981. The program uses tax credits as an incentive for businesses and, with certain restrictions, individuals, to make donations to eligible projects. To be an eligible project an organization must be a 501(c)(3) or (4) whose primary function is providing assistance to low-income individuals and families. The amendments will make several technical and clarifying changes, including updating code citations and correcting inconsistencies in terminology. In addition, amendments are being proposed to ensure the availability of tax credits and their equitable distribution among approved projects. Also, amendments are being proposed to ensure fairness in the valuation of certain donated items and to improve the process for determining eligibility of organizations applying to participate in NAP. |
Chapters Affected |
Only affects this chapter.
|
Executive Branch Review |
This action will go through the normal Executive Branch Review process.
|
RIS Project |
Yes [000552] |
New Periodic Review |
This action will not be used to conduct a new periodic review.
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Stages
Stages associated with this regulatory action.
Stage ID |
Stage Type |
Status |
3157
|
NOIRA
|
Stage complete. Comment period ended 08/10/2005. |
3431
|
Proposed
|
Stage withdrawn on 12/30/2005 before the Secretary's office completed its review. |
3560
|
Proposed
|
Stage complete. Comment period ended 11/03/2006. |
4028
|
Final
|
Stage complete. This regulation became effective on 09/01/2007. |
Contact Information
Name / Title:
|
J, Mark Grigsby
/
Director
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Address:
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Office of Community Services
7 North 8th Street
Richmond, VA 23219
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Email Address:
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james.grigsby@dss.virginia.gov
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Phone:
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(804)726-7922
FAX: (804)726-7946
TDD: (800)828-1120
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