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2001 SESSION
HB 2493 Oysters; grants for transfer to sanctuary.
Introduced by: P. E. (Phil) Larrabee | all patrons ... notes | add to my profiles | history
SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION:
Grant program for growing oysters. Creates a grant program for individuals who grow oysters pursuant to a valid Virginia Marine Resources Commission General Permit for Noncommercial Riparian Shellfish Growing Activities, who also obtains a receipt pursuant to § 28.2-201.1 according to procedures established by the Virginia Marine Resources Commission evidencing the transfer of at least 500 oysters. The grant paid in a calendar year is to be an amount equal to the lesser of $300 or the actual amount spent by the individual on growing oysters during the applicable calendar year. The bill also creates the Oyster Growing Activities Fund from which the grants will be made. The Virginia Marine Resources Commission is to administer the Fund and the grant program.
SUMMARY AS PASSED:
Grant program for growing oysters. Creates a grant program for individuals who grow oysters pursuant to a valid Virginia Marine Resources Commission General Permit for Noncommercial Riparian Shellfish Growing Activities, who also obtains a receipt pursuant to § 28.2-201.1 according to procedures established by the Virginia Marine Resources Commission evidencing the transfer of at least 500 oysters. The grant paid in a calendar year is to be an amount equal to the lesser of $300 or the actual amount spent by the individual on growing oysters during the applicable calendar year. The bill also creates the Oyster Growing Activities Fund from which the grants will be made. The Virginia Marine Resources Commission is to administer the Fund and the grant program.
SUMMARY AS PASSED HOUSE:
Income tax; tax credit for growing oysters. Grants a nonrefundable tax credit to any individual in an amount equal to the amount spent on growing oysters pursuant to a valid Virginia Marine Resources Commission General Permit for Noncommercial Riparian Shellfish Growing Activities, who also obtains a receipt pursuant to § 28.2-201.1 according to procedures established by the Virginia Marine Resources Commission evidencing the transfer of at least 500 oysters. The credit sunsets January 1, 2011.
SUMMARY AS INTRODUCED:
Income tax; tax credit for growing oysters. Grants a nonrefundable tax credit to any individual in an amount equal to the amount spent on growing oysters pursuant to a valid Virginia Marine Resources Commission General Permit for Noncommercial Riparian Shellfish Growing Activities, who also obtains a receipt pursuant to § 28.2-201.1 according to procedures established by the Virginia Marine Resources Commission evidencing the transfer of at least 250 oysters.