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2005 SESSION

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HB 2788 Land preservation tax credit; transfer to other taxpayers.

Introduced by: Joseph P. Johnson, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Land preservation tax credit.  Allows the Tax Commissioner to determine if a taxpayer may transfer certain unused credits if he acted in good faith based on erroneous information.

SUMMARY AS INTRODUCED:

Land preservation tax credit.  Provides that unused tax credits for land donated on or after January 1, 2000, under the Virginia Land Conservation Incentives Act of 1999, may be transferred to other taxpayers. Legislation in 2002 allowed for the transfer of unused tax credits arising from qualified donations made on or after January 1, 2002.