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2006 SESSION

• | print version

HB 533 Income tax, state; land preservation tax credit, value of donation.

Introduced by: Harry J. Parrish | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; land preservation tax credit.  Requires that the value of the donated interest in land (i) be calculated using an amount that does not exceed the assessed value of the property for purposes of local property tax, and (ii) not exceed such assessed value. If the most recent general reassessment of property in the locality occurred more than two years before the conveyance, the assessed value shall be adjusted by dividing the assessed value by the median ratio for the locality from the most recent Assessment/Sales Ratio Study published by the Department of Taxation.

FULL TEXT

• 01/09/06  House: Prefiled and ordered printed; offered 01/11/06 065155452  pdf | impact statement

HISTORY

• 01/09/06  House: Prefiled and ordered printed; offered 01/11/06 065155452
• 01/09/06  House: Referred to Committee on Finance
• 01/18/06  House: Assigned to Finance sub-committee: #3 (Ware, R.L.)
• 02/13/06  House: Incorporated by Finance (HB450-Ware, R.L.) by voice vote