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2008 SESSION
HB 1283 Land preservation tax credit; elimination of verification of conservation value.
Introduced by: Clifford L. Athey, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Land preservation tax credit; elimination of verification of conservation value. Eliminates Department of Conservation and Recreation verification of conservation value of land donations that will result in $1 million or more in land preservation tax credits. Currently, as a condition of the issuance of a land preservation tax credit, the Department must verify the conservation value of donations that will result in $1 million or more in tax credits.
The bill also would establish a review and administrative appeal process in which proposed conveyances of donations would be reviewed by the Department of Taxation for purposes of determining whether the proposed donation would qualify for a land preservation tax credit. The review process would eliminate the current requirement that the taxpayer execute or record the land donation prior to applying for a land preservation tax credit.
FULL TEXT
HISTORY
- 01/09/08 House: Prefiled and ordered printed; offered 01/09/08 081074420
- 01/09/08 House: Referred to Committee on Finance
- 01/15/08 House: Assigned Finance sub: 2
- 02/12/08 House: Left in Finance