HB450: Income tax, state; land preservation tax credit.
Chief Patron
Del.
Lee Ware (R-65)
Lee Ware
(R-65)
Powhatan, VA
Served: 1998–
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Status
Bill is Dead
View Entire History
- 01/09/2006 Prefiled and ordered printed; offered 01/11/06 067346540
- 01/09/2006 Referred to Committee on Finance
- 01/18/2006 Assigned to Finance sub-committee: #3 (Ware, R.L.)
- 01/30/2006 Fiscal impact statement from TAX (HB450)
- 02/13/2006 Reported from Finance with substitute (22-Y 0-N)
- 02/13/2006 Committee substitute printed 067375540-H1
- 02/14/2006 Read first time
- 02/15/2006 Read second time
- 02/15/2006 Committee substitute agreed to 067375540-H1
- 02/15/2006 Passed by for the day
- 02/16/2006 Read second time
- 02/16/2006 Engrossed by House - committee substitute HB450H1
- 02/17/2006 Read third time and passed House BLOCK VOTE (97-Y 0-N)
- 02/17/2006 VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
- 02/17/2006 Communicated to Senate
- 02/20/2006 Constitutional reading dispensed
- 02/20/2006 Referred to Committee on Finance
- 02/24/2006 Fiscal impact statement from TAX (HB450H1)
- 02/28/2006 Reported from Finance with substitute (15-Y 0-N)
- 02/28/2006 Committee substitute printed 069240712-S1
- 03/01/2006 Constitutional reading dispensed (39-Y 0-N)
- 03/01/2006 VOTE: (39-Y 0-N)
- 03/01/2006 Read third time
- 03/01/2006 Reading of substitute waived
- 03/01/2006 Committee substitute agreed to 069240712-S1
- 03/01/2006 Engrossed by Senate - committee substitute HB450S1
- 03/01/2006 Passed Senate with substitute (26-Y 10-N 2-A)
- 03/01/2006 VOTE: (26-Y 10-N 2-A)
- 03/01/2006 Senate substitute rejected by House (1-Y 96-N)
- 03/01/2006 VOTE: REJECTED (1-Y 96-N)
- 03/01/2006 Senate insisted on substitute (37-Y 2-N)
- 03/01/2006 VOTE: (37-Y 2-N)
- 03/01/2006 Senate requested conference committee
- 03/01/2006 House acceded to request
- 03/01/2006 Conferees appointed by House
- 03/01/2006 Delegates: Ware, R.L., Cline, Watts
- 03/01/2006 Conferees appointed by Senate
- 03/01/2006 Senators: Watkins, Hanger, Howell
- 03/11/2006 No further action taken
- 03/11/2006 Failed to pass in House
Summary
Income tax; land preservation tax credits. Removes the
$100,000 annual credit limit that a taxpayer may take for qualified donations
of conservation easements and requires the filing of a statement for
less-than-fee interest donations that describes how such interest meets the
requirements of IRC § 170(h). It also adds as qualified donations easements on
historic buildings or a complex of historic buildings or a portion of such
buildings if the building is listed on the Virginia Landmarks Register,
provided there are restrictions on the exterior surfaces of the building or
complex of buildings. A fee of 1% of the value of the donated interest, or
$5,000, whichever is less, is imposed on any taxpayer who transfers unused tax
credits. It also allows the tax credits to pass at the death of the taxpayer
to his estate and allows the estate to transfer unused tax credits. View Full Text »
Poll Results
No Richmond Sunlight visitors voted on this bill while voting was open.
Tags
Bill Text
Sunday, July 6, 2008