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2018 SESSION
HB 1460 Land preservation tax credits; transfer to a designated beneficiary.
Introduced by: C. Matthew Fariss | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Land preservation tax credits; transfer to a designated beneficiary. Provides that a person who has unused land preservation tax credits may provide that such credits be transferred to a designated beneficiary upon his death, so long as such person with unused credits is the person who originally earned them. The bill provides that if a person dies without a will, his unused credit shall be transferred according to the rules of intestacy. The bill provides that such transfers are not subject to any fees and retain the same carryover period as if held by their original owner.
Under current law, a person who has unused land preservation tax credits may transfer them while he is alive. Generally, such transfers are subject to a two percent transfer fee.
FULL TEXT
- 01/17/18 House: Presented and ordered printed 18104545D pdf | impact statement
- 02/12/18 House: Printed as engrossed 18104545D-E pdf | impact statement
- 03/01/18 House: Bill text as passed House and Senate (HB1460ER) pdf | impact statement
- 03/30/18 Governor: Acts of Assembly Chapter text (CHAP0560) pdf
AMENDMENTS
HISTORY
- 01/17/18 House: Presented and ordered printed 18104545D
- 01/17/18 House: Referred to Committee on Finance
- 01/30/18 House: Assigned Finance sub: Subcommittee #2
- 01/31/18 House: Subcommittee recommends reporting with amendment (7-Y 0-N)
- 02/07/18 House: Reported from Finance with amendments (22-Y 0-N)
- 02/09/18 House: Read first time
- 02/12/18 House: Read second time
- 02/12/18 House: Committee amendments agreed to
- 02/12/18 House: Engrossed by House as amended HB1460E
- 02/12/18 House: Printed as engrossed 18104545D-E
- 02/13/18 House: Read third time and passed House BLOCK VOTE (100-Y 0-N)
- 02/13/18 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/14/18 Senate: Constitutional reading dispensed
- 02/14/18 Senate: Referred to Committee on Finance
- 02/27/18 Senate: Reported from Finance (16-Y 0-N)
- 02/28/18 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/28/18 Senate: Read third time
- 02/28/18 Senate: Passed Senate (40-Y 0-N)
- 03/01/18 House: Enrolled
- 03/01/18 House: Bill text as passed House and Senate (HB1460ER)
- 03/01/18 House: Signed by Speaker
- 03/03/18 Senate: Signed by President
- 03/07/18 House: Enrolled Bill communicated to Governor on March 7, 2018
- 03/07/18 Governor: Governor's Action Deadline Midnight, April 9, 2018
- 03/30/18 Governor: Approved by Governor-Chapter 560 (effective 7/1/18)
- 03/30/18 Governor: Acts of Assembly Chapter text (CHAP0560)