“The interesting part about it,” Mr. Jamieson noted, “is

“The interesting part about it,” Mr. Jamieson noted, “is that the credit can be drawn out over five years.” If the business doesn’t need to use the entire credit in one year, it may be spread out over a period of up to five years.

Although Mr. Jamieson said the library obviously hopes to draw some local donors through this new initiative, the program is open to any business, regardless of its location, which pays Virginia income tax. It is not, he added, available to individuals.

The definition of business under the program, Mr. Jamieson said, includes professionals such as doctors and lawyers, real estate agents, inns and bed and breakfasts, contractors and farmers, “or whatever business you are conducting that pays a Virginia income tax.”

The criteria for acceptance by the Neighborhood Assistance Act tax credit program are stringent, and the Friends of the Library have spent the better part of the last year completing the application process, Mr. Jamieson said. Robert M. Darby of Woodville, chairman of the Special Gifts Committee, “did a terrific job on this. It was one of his assignments, and he really came through.”

There are only about 40 qualified non-profit organizations in the state accepting contributions under the tax credit program. The library project joins the Child Care and Learning Center as the second qualified organization in Rappahannock County.

The Neighborhood Assistance Act was authorized by the General Assembly to encourage businesses to invest in improvements to their local communities. It emphasizes partnerships between private enterprise and non-profit community groups to benefit the entire community, particularly the economically disadvantaged.

Meanwhile, the library project’s fund drive continues to solicit contributions from individuals as well, Mr. Jamieson noted. “It is coming along pretty well,” he reported. “We are picking up more contributions each week. And, of course, we are constantly on the phone talking to people.”

So far, the fundraising effort has netted approximately $375,000 of the estimated $500,000 cost of the project. That includes the proceeds of the sale of the present library building on Gay Street to the Town of Washington, which plans to convert it into a town hall.

With the completion of the architectural drawings of the new building, which will be constructed on a 2 1/2 acre site on U.S. 211 just east of Washington donated by Dean and Linda Morehouse, the project is on track, Mr. Jamieson said.

He said that ine library hopes to advertise the project for construction bids this fall, with completion scheduled for the summer of 1991.

Enthused about the approval of the business tax credit, Mr. Jamieson said, “hopefully we will have some immediate takers.” And, he added, contributions from individuals are fully tax-deductible as well, though not eligible for the Neighborhood Assistance Act program.

Contributions should be made payable to Treasurer, Rappahannock County Library, and mailed to Friends of the Rappahannock Co. library, P.O. Box 55, Washington, Va. 22747. Please note that the contribution is to be applied toward the library’s building project.

For more information about the Neighborhood Assistance Act business tax credit program, or about the library’s building project, call the library (675-3780) or Mr. Jamieson (987-8586).