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2010 SESSION
SB 264 Income tax, state; remainder of revenues transferred to Land Conservation Fund for distribution.
Introduced by: Mary Margaret Whipple | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Land preservation tax credit; fee for transfer of credits. Changes the fee for the sale or distribution of land preservation tax credits to two percent of the value of the donated interest. Currently, the fee is two percent of the value of the donated interest, but not to exceed $10,000. Revenues generated by such fees first shall be used by the Department of Taxation and the Department of Conservation and Recreation for implementation of the Fund and any amount exceeding 50 percent of the total revenue generated by the fee on an annual basis shall be transferred to the Virginia Land Conservation Fund for distribution to the public or private conservation agencies or organizations that are responsible for enforcing the conservation and preservation purposes of the donated interests.
FULL TEXT
- 01/12/10 Senate: Prefiled and ordered printed; offered 01/13/10 10102300D pdf | impact statement
- 02/16/10 Senate: Committee substitute printed 10105134D-S1 pdf | impact statement
- 03/11/10 Senate: Bill text as passed Senate and House (SB264ER) pdf | impact statement
- 04/08/10 Governor: Acts of Assembly Chapter text (CHAP0248) pdf
HISTORY
- 01/12/10 Senate: Prefiled and ordered printed; offered 01/13/10 10102300D
- 01/12/10 Senate: Referred to Committee on Finance
- 02/16/10 Senate: Reported from Finance with substitute (15-Y 0-N)
- 02/16/10 Senate: Committee substitute printed 10105134D-S1
- 02/17/10 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/18/10 Senate: Read second time
- 02/18/10 Senate: Reading of substitute waived
- 02/18/10 Senate: Committee substitute agreed to 10105134D-S1
- 02/18/10 Senate: Engrossed by Senate - committee substitute SB264S1
- 02/19/10 Senate: Read third time and passed Senate (40-Y 0-N)
- 02/22/10 House: Placed on Calendar
- 02/22/10 House: Read first time
- 02/22/10 House: Referred to Committee on Finance
- 02/22/10 House: Assigned Finance sub: #2
- 02/24/10 House: Subcommittee recommends reporting (10-Y 0-N)
- 03/01/10 House: Reported from Finance (22-Y 0-N)
- 03/02/10 House: Read second time
- 03/03/10 House: Read third time
- 03/03/10 House: Passed House BLOCK VOTE (99-Y 0-N)
- 03/03/10 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 03/11/10 Senate: Enrolled
- 03/11/10 Senate: Bill text as passed Senate and House (SB264ER)
- 03/11/10 House: Signed by Speaker
- 03/13/10 Senate: Signed by President
- 04/08/10 Governor: Approved by Governor-Chapter 248 (effective 7/1/10)
- 04/08/10 Governor: Acts of Assembly Chapter text (CHAP0248)