HB 1828 Land preservation; tax credit.
R. Lee Ware | all patrons    ...    notes
| add to my profiles

Summary as passed: (all summaries)

Land preservation tax credit. Makes several changes to the land preservation tax credit by (i) reducing the maximum amount of tax credits that may be issued in each calendar year from $100 million to $75 million beginning in 2015; (ii) with the exception of credits issued for fee simple interest donations, reducing the maximum amount of the land preservation tax credit that may be claimed in any year from $100,000 in taxable year 2014 to $20,000 in taxable years 2015 and 2016 and $50,000 for each taxable year thereafter; (iii) requiring that a complete application for the tax credit with regard to a conveyance be filed with the Department of Taxation by December 31 of the year following the calendar year of the conveyance; and (iv) prohibiting the Department of Taxation from issuing any tax credit for a donation from any allocation or pool of tax credits attributable to a calendar year prior to the year in which the complete tax credit application for the donation was filed. This bill is identical to SB 1019.

Full text:
01/13/15  House: Prefiled and ordered printed; offered 01/14/15 15103287D  pdf | impact statement
02/09/15  House: Printed as engrossed 15103287D-E  pdf | impact statement
02/17/15  Senate: Committee substitute printed 15105207D-S1  pdf
02/23/15  House: Bill text as passed House and Senate (HB1828ER)  pdf | impact statement
03/17/15  Governor: Acts of Assembly Chapter text (CHAP0235)  pdf

Amendments:
House amendments

Status:
01/13/15  House: Prefiled and ordered printed; offered 01/14/15 15103287D
01/13/15  House: Referred to Committee on Agriculture, Chesapeake and Natural Resources
01/27/15  House: Referred from Agriculture, Chesapeake and Natural Resources by voice vote
01/27/15  House: Referred to Committee on Finance
01/27/15  House: Assigned Finance sub: Subcommittee #2
01/28/15  House: Subcommittee recommends reporting (10-Y 0-N)
02/04/15  House: Reported from Finance with amendments (18-Y 0-N)
02/06/15  House: Read first time
02/09/15  House: Read second time
02/09/15  House: Committee amendments agreed to
02/09/15  House: Engrossed by House as amended HB1828E
02/09/15  House: Printed as engrossed 15103287D-E
02/10/15  House: Read third time and passed House (96-Y 4-N)
02/10/15  House: VOTE: PASSAGE (96-Y 4-N)
02/11/15  Senate: Constitutional reading dispensed
02/11/15  Senate: Referred to Committee on Finance
02/17/15  Senate: Reported from Finance with substitute (13-Y 1-N)
02/17/15  Senate: Committee substitute printed 15105207D-S1
02/18/15  Senate: Constitutional reading dispensed (38-Y 0-N)
02/18/15  Senate: Read third time
02/18/15  Senate: Reading of substitute waived
02/18/15  Senate: Committee substitute agreed to 15105207D-S1
02/18/15  Senate: Engrossed by Senate - committee substitute HB1828S1
02/18/15  Senate: Passed Senate with substitute (34-Y 3-N)
02/18/15  House: Placed on Calendar
02/18/15  House: Senate substitute agreed to by House 15105207D-S1 (87-Y 2-N)
02/18/15  House: VOTE: ADOPTION (87-Y 2-N)
02/23/15  House: Enrolled
02/23/15  House: Bill text as passed House and Senate (HB1828ER)
02/23/15  House: Signed by Speaker
02/24/15  Senate: Signed by President
02/25/15  House: Enrolled Bill communicated to Governor on 2/25/15
02/25/15  Governor: Governor's Action Deadline Midnight, Sunday, March 29, 2015
03/17/15  Governor: Approved by Governor-Chapter 235 (effective 7/1/15)
03/17/15  Governor: Acts of Assembly Chapter text (CHAP0235)