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2005 SESSION

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SB 678 Income tax, state and corporate; limits land preservation tax credits.

Introduced by: Emmett W. Hanger, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Land preservation tax credit. Provides an aggregate limit of $600,000 in tax credit for tax credits that are obtained through a transfer. The bill applies only to conveyances made in a taxable year beginning on or after January 1, 2004. The bill does not apply to certain conveyances of property with a state or global rare ecosystem ranking as determined by the Virginia Division of Natural Heritage.


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