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- Subject Index: Since 1995
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1999 SESSION
SB 1218 Tax credits; preservation of land.
Introduced by: Emmett W. Hanger, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)
Tax credits; preservation of land. Provides an income tax credit for individuals and corporations donating land for preservation and sustainability purposes. The tax credit is 50 percent of the “fair market value” of the land transferred, not to exceed $50,000 in 2000 taxable years, $75,000 in 2001 taxable years and $100,000 in 2002 taxable years and taxable years thereafter. In addition, the credit may only be used to offset taxes owed, but it may be carried forward for a period of five years. To the extent a credit is taken, no subtraction for the gain on the sale of land or an easement dedicated to open-space use under subsection C of § 58.1-322 shall be allowed for three years after the credit is taken.
FULL TEXT
- 01/21/99 Senate: Presented & ordered printed 999242666 pdf
- 02/26/99 Senate: Bill text as passed Senate and House (SB1218ER) pdf
- 04/07/99 Senate: Reenrolled bill text (SB1218ER2) pdf
- 04/13/99 Governor: Acts of Assembly Chapter text (CHAP0968) pdf
AMENDMENTS
HISTORY
- 01/21/99 Senate: Presented & ordered printed 999242666
- 01/21/99 Senate: Referred to Committee on Finance
- 02/04/99 Senate: Reported from Finance (17-Y 0-N)
- 02/05/99 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/05/99 Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
- 02/08/99 Senate: Read second time and engrossed
- 02/08/99 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/08/99 Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
- 02/08/99 Senate: Passed Senate (40-Y 0-N)
- 02/08/99 Senate: VOTE: PASSAGE R (40-Y 0-N)
- 02/08/99 Senate: Communicated to House
- 02/10/99 House: Placed on Calendar
- 02/10/99 House: Read first time
- 02/10/99 House: Referred to Committee on Finance
- 02/16/99 House: Reported from Finance with amds. (24-Y 0-N)
- 02/17/99 House: Constitutional reading dispensed
- 02/17/99 House: Read third time
- 02/17/99 House: Committee amendments agreed to
- 02/17/99 House: Engrossed by House as amended
- 02/17/99 House: Passed House with amendments (Block Vote) (99-Y 0-N)
- 02/17/99 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/17/99 Senate: Reading of amendments waived
- 02/17/99 Senate: House amendments agreed to by Senate (38-Y 0-N)
- 02/17/99 Senate: VOTE: CONCUR HOUSE AMENDMENTS (38-Y 0-N)
- 02/26/99 Senate: Bill text as passed Senate and House (SB1218ER)
- 03/01/99 Senate: Enrolled
- 03/01/99 House: Signed by Speaker
- 03/03/99 Senate: Signed by President
- 03/29/99 Senate: Governor's recommendation received by Senate
- 04/07/99 Senate: Placed on Calendar
- 04/07/99 Senate: Senate concurred in Gov's recommendation (37-Y 0-N)
- 04/07/99 Senate: VOTE: ADOPT GOV. RECOMM. (37-Y 0-N)
- 04/07/99 Senate: Rec. of Gov's recommendation agreed to (40-Y 0-N)
- 04/07/99 Senate: VOTE: RECONSIDER (40-Y 0-N)
- 04/07/99 Senate: Senate concurred in Gov's recommendation (40-Y 0-N)
- 04/07/99 Senate: VOTE: ADOPT GOV. RECOMM. (40-Y 0-N)
- 04/07/99 House: House concurred in Gov's recom (Block Vote) (97-Y 0-N)
- 04/07/99 House: VOTE: BLOCK VOTE-ADOPTION (97-Y 0-N)
- 04/07/99 Governor: Governor's recommendation adopted
- 04/07/99 Senate: Reenrolled
- 04/07/99 Senate: Signed by President as reenrolled
- 04/07/99 House: Signed by Speaker as reenrolled
- 04/07/99 House: Enacted, Chapter 968 (effective-see bill)
- 04/07/99 Senate: Reenrolled bill text (SB1218ER2)
- 04/13/99 Governor: Acts of Assembly Chapter text (CHAP0968)