Section 55. Donations by individuals

A. As provided in § 58.1-439.24 of the Code of Virginia, an individual shall be eligible for a tax credit for a cash donation or a donation of marketable securities to an approved organization.

B. Such donations are subject to the minimum and maximum amounts and other provisions set forth in § 58.1-439.24 of the Code of Virginia.

C. The approved organization and the individual shall complete a certification on a form prescribed by the Department of Social Services, as specified in § 58.1-439.24 E of the Code of Virginia.

D. All certifications must be submitted to the Department of Social Services within four years of the date of donation.

E. Upon receipt and approval of the certification, the commissioner shall issue a tax credit certificate to the individual.

Historical Notes

Derived from Volume 18, Issue 12, eff. April 1, 2002; amended, Virginia Register Volume 23, Issue 22, eff. September 1, 2007; Volume 25, Issue 23, eff. September 1, 2009; Errata, 25:25 VA.R. 4447 August 17, 2009; amended, Virginia Register Volume 29, Issue 01, eff. October 10, 2012; Volume 32, Issue 06, eff. December 31, 2015.

Statutory Authority

§§ 58.1-439.20 and 63.2-217 of the Code of Virginia.