§ 58.1-439.27 Scholarship foundation eligibility and requirements; list of foundations receiving donations
A. Persons seeking to receive and administer tax-credit-approved funds shall submit information to the Department of Education, which shall determine whether an applicant is a scholarship foundation as defined in § 58.1-439.25. The Department of Education shall prescribe through guidelines what reasonable information shall be submitted by such persons. Notice of approval or denial, including reasons for denial, shall be issued by the Department of Education to the applicant within 60 days after the complete information is submitted. Any approval shall not be withheld unreasonably.
B. The Department of Education shall submit a list of all scholarship foundations that received donations for which tax credits were issued under this article to the Chairmen of the House Committee on Finance and the Senate Committee on Finance and Appropriations no later than December 1 of each year. The list shall report such scholarships for the 12-month period ending on the immediately preceding June 30.
History
This law was first created in 2012. The record of its establishment is cataloged in chapters 731 and 842 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2013, chapters 713 and 716.
2012, cc. 731, 842; 2013, cc. 713, 716.