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2011 SESSION

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SB 1232 Land preservation tax credits; changes to procedures.

Introduced by: R. Creigh Deeds | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Land preservation tax credits.  Provides that the maximum amount of credits that may be issued in any calendar year by the Department of Taxation shall be $100 million plus any previously issued credits that have been disallowed or invalidated by the Department. The bill also allows the Tax Commissioner to have a second appraisal conducted on property for which an application for the credit has been made if he provides written notice to the donor within 30 days of the application being filed, and requires that the Tax Commissioner make a final determination within 180 days of such notice.


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