Land Conservation, Open Spaces, Park Lands
| Bills | Committee | Last action | Date |
| HB 291 - Johnson - Timber; property owners to send written notice to all adjoining property owners prior to cutting. | (H) Committee on Agriculture, Chesapeake and Natural Resources | (H) Subcommittee recommends striking from docket | 02/01/12 |
| notes: Requires the owner of any property on which timber is to be cut to send written notice to all adjoining property owners at least 60 days before cutting timber and to send written certification to the State Forester that such notice was sent at least 45 days before cutting timber. | |||
| HB 336 - Wilt - Virginia Land Conservation Fund; distribution of revenues. | (H) Committee on Finance (S) Committee on Finance | (S) Referred to Committee on Finance | 01/27/12 |
| notes: Provides that in distributing the revenues in the Virginia Land Conservation Fund generated by the sale of land conservation tax credits, funds shall not be distributed to federal governmental entities. | |||
| HB 456 - Ware, R.L. - Riparian forest tax credit; refund. | (H) Committee on Finance | (H) Subcommittee recommends reporting (4-Y 0-N) | 02/03/12 |
| notes: Makes the existing tax credit for riparian forest buffer protection for waterways refundable. Currently, the tax credit may be carried forward for five taxable years, but is not refundable. | |||
| HB 908 - Minchew - Land preservation tax credit; application for credits prior to any donation. | (H) Committee on Finance | (H) Continued to 2013 in Finance | 01/30/12 |
| notes: Provides that beginning January 1, 2013, a donor would be given the option to apply to the Department of Taxation for land preservation tax credits prior to making any donation of land. The Tax Commissioner, in general, would be required to provide such donors with a determination letter conditionally allowing the land preservation tax credits, in whole or in part, or denying the application for tax credit within 120 days of a complete application. After the Tax Commissioner's determination letter, the donor could complete the conveyance of the donation and in such case would provide the Department with certified copies of the recorded deeds and instruments conveying the donation. The Department then would provide the donor with a written certification issuing the tax credits that were previously conditionally allowed. If the Tax Commissioner issues land preservation tax credits to a donor who elected to apply for the credits prior to making any donation, the fair market value of the donation would thereafter not be subject to dispute, except upon a showing of fraud or the misrepresentation of a material fact. | |||
| HB 1268 - Brink - Land preservation tax credit; reduces amount that may be claimed for taxable years 2012 and 2013. | (H) Committee on Finance | (H) Subcommittee recommends reporting (5-Y 0-N) | 01/27/12 |
| notes: Reduces from $100,000 to $50,000 the amount of the land preservation tax credit that may be claimed for taxable years 2012 and 2013. Any taxpayer affected by the credit reduction would be allowed two additional taxable years in which to claim the land preservation tax credit. | |||
Giesen Perspective View the Giesen Perspective with links to previous editions. Latest: January 4, 2012
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