Virginia Senate Bill 744 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 18 2008 - 25% progression, died in chamber
Action: 2008-02-18 - Senate: Committee substitute printed 082957232-S1

Land preservation tax credit. Establishes a process by which properties are to be registered with the Department of Taxation prior to any tax credit being allowed for a donation. The registration process requires a written certification by a licensed reviewer certifying that the property, or interest therein, is in compliance with pre-registration standards established by the Department. The pre-registration standards would include standards for the public benefit derived from the donation and standards for the use of the property by the donee. The Department would be authorized to license qualified applicants to perform the review for certification. The Department would be allowed to levy and collect fees for licensure to cover the direct expenses for the administration of the registration program. The Department would be required to implement a limited appeals process by which prospective credit claimants could seek to register with the Department notwithstanding the lack of a written certification from a licensed reviewer.

Land preservation tax credit; establishes process where properties are registered with Dept. of Tax.

Sen. Emmett Hanger [R]

Date	Chamber	Action
2008-02-18		Senate: Committee substitute printed 082957232-S1
2008-01-23		Senate: Continued to 2009 in Finance (16-Y 0-N)
2008-01-18		Senate: Referred to Committee on Finance
2008-01-18		Senate: Presented and ordered printed 088897232

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?081+sum+SB744