HB1470
Land preservation tax credits; limitations.
Summary
As Introduced. Land preservation tax credits; limitations.
Imposes a $2 million limit on the amount of credits that may be claimed for each land conveyance and a $20,000 limit on the annual amount of credits that may be claimed by each taxpayer. The bill establishes a $50,000 cap on the annual amount of credits that may be ... (More) claimed for a fee simple donation of land to the Commonwealth. The bill provides that the maximum annual amount of credits that may be issued to all taxpayers shall not exceed $50 million. The bill increases the fee imposed upon any transfer arising from the sale of land preservation tax credits by any taxpayer from two to 2.5 percent of the value of the donated interest. (Less)-
Bill History
- 12/09/2016 - House: Prefiled and ordered printed; offered 01/11/17 17101940D
- 12/09/2016 - House: Referred to Committee on Finance
- 01/11/2017 - House: Assigned Finance sub: Subcommittee #2
- 01/17/2017 - House: Impact statement from TAX (HB1470)
- 01/18/2017 - House: Subcommittee recommends laying on the table
- 02/07/2017 - House: Left in Finance
