Family caregiver tax credit. Creates a nonrefundableincome tax credit for taxable years 2024 through 2028 for expensesincurred by an individual in caring for an eligible family member,defined in the bill, who requires assistance with one or more activitiesof daily living, also defined in the bill. The credit equals 50 percentof eligible expenditures incurred by the caregiver up to $1,000. Inorder to qualify for the credit, the family caregiver must (i) notreceive any compensation or reimbursement for the eligible expendituresand (ii) have federal adjusted gross income that is no greater than$100,000 for an individual or $200,000 for married persons.
Public high schools; personnel; career coachrequired. Requires each school board to employ at least one careercoach in each public high school in the local school division whoseduties are required to include assisting students with securing internships, externships, and credentialing opportunities as required by the Profileof a Virginia Graduate, providing students with information on apprenticeship programs, and connecting students to career opportunities. The billprovides that each such individual shall be employed in additionto and not as a replacement for the required school counselor positions,specialized student support positions, or support services positions.
Board of Education; criteria for initial renewableteacher licensure for certain individuals. Requires the Boardof Education to issue an initial renewable license as a teacher toany applicant who (i) is enrolled in an accredited education preparationprogram at an institution of higher education in the Commonwealth;(ii) is recommended for such licensure by the dean of such educationpreparation program; (iii) has attempted, unsuccessfully, to obtaina qualifying score on the communication and literacy assessment prescribedby the Board; (iv) meets all other requirements for such license;and (v) meets any other criteria for the issuance of such licensein such circumstances as may be established by the Board of Education.
Virginia taxable income; standard deduction.Removes the sunset on elevated standard deduction amounts forsingle individuals and married persons that was scheduled to expirefor taxable years beginning on and after January 1, 2026.
Virginia Center for Firearm Violence Interventionand Prevention; Virginia Firearm Violence Intervention and PreventionFund; creation. Creates the Virginia Center for Firearm ViolenceIntervention and Prevention (the Center) within the Department ofCriminal Justice Services and the Virginia Firearm Violence Interventionand Prevention Fund, to be administered by the Center, to replacethe existing Virginia Gun Violence Intervention and Prevention Fund.
Manufactured homes; conversion to real property. Creates a process by which a manufactured home with a security interestmay be converted to real property and provides requirements and proceduresfor doing so.
Public education; dual enrollment and concurrent enrollment; high school graduation. Makes several changes relatingto graduation from a public high school in the Commonwealth, including(i) eliminating the requirement for a student to complete one virtualcourse in order to graduate from high school and (ii) specifyingthat various options and requirements relating to earning careerand technical education credentials for the purpose of satisfyinghigh school graduation requirements are required to be high-demandcareer and technical education credentials. The bill also definesand thereby distinguishes the concepts of dual enrollment and concurrentenrollment in the context of high school students' participation in college-level coursework and requires the agreements for postsecondary attainment between school boards and comprehensive community collegesto specify the credit available for dual enrollment and concurrentenrollment courses.
Sales and use tax exemption; data centers. Requires data center operators to meet certain energy efficiency standardsin order to be eligible for the sales and use tax exemption fordata center purchases. Under the bill, a data center operator shall be eligible for the exemption only if such operator demonstratesthat (i) its facilities either (a) have a power usage effectivenessscore of no greater than 1.2 or (b) for data centers co-located inbuildings with other commercial uses, achieve an energy efficiencylevel of no less than the most efficient 15 percent of similar buildingsconstructed in the previous five years and (ii) it will procure carbon-freerenewable energy and associated renewable energy certificates fromfacilities equal to 90 percent of its electricity requirements orthat its electricity will be otherwise derived from non-carbon-emitting,renewable sources.
Virginia Institute of Marine Science; reviewthe cumulative surface water intake effects on aquatic fauna in theChesapeake Bay; report. Directs the Virginia Institute of MarineScience (VIMS) to review the feasibility of studying cumulative impactsof surface water intakes on aquatic fauna and water quality in Virginia'srivers and the Chesapeake Bay. VIMS is required to report whetherthe study may be conducted and, if so, report the total amount offunding necessary to conduct the study to the Governor by October1, 2024.
Tax credit for purchase of mobile machineryand equipment used by road contractors for processing recyclableasphalt materials on pavements and roadways. Creates a nonrefundabletax credit for taxable years 2025 through 2029 in an amount equalto 20 percent of the purchase price paid, as defined in the bill,during the taxable year for machinery and equipment used to reclaim,recycle, or reprocess existing asphalt materials from pavements androadways. The bill requires a taxpayer to submit invoices with anincome tax return verifying the amount of purchase price paid forsuch machinery and equipment. The bill provides a $3 million aggregateannual cap on the number of credits to be distributed, as administeredby the Department of Taxation. Any credit not used for the taxableyear in which the purchasing price for recycling machinery was paidmay be carried over for the next 10 years until the total creditamount is used.
Public school funding; nonpersonal cost categories;federal fund deduction methodology; support services. Requiresthe Department of Education, (i) in calculating nonpersonal costsin the Standards of Quality funding formula, to include the costsassociated with leased facilities and work-related employee travel and (ii) in calculating the deduction of federal funds in the Standardsof Quality funding formula, to examine actual school division spendingon support costs as a percentage of actual school division spendingon all public education costs, with certain exceptions such as foodservice. The bill also requires support services positions, whichincludes positions in each local school division that the schoolboard deems necessary for the efficient and cost-effective operationand maintenance of its public schools, to be funded based on a calculationof prevailing costs and prohibits such positions from being subjectto any method of funding calculation that caps the number of fundedsupport services positions based on a ratio of such positions tostudents enrolled in the local school division.
Imposition of income tax. Establishes anew income tax bracket beginning on and after January 1, 2024, that taxes income in excess of $1 million at a rate of 10 percent. Thebill provides that 50 percent of revenues generated by the new taxbracket will be dedicated to providing additional basic aid fundingfor public schools, 30 percent of such revenues will be dedicatedto the Child Care Subsidy Program, and 20 percent of such revenueswill be dedicated to the Virginia Housing Trust Fund.
