HB1283: Land preservation tax credit; elimination of verification of conservation value.

Chief Patron

Del. Clay Athey (R-18)

Clay Athey (R-18)
Front Royal, VA
Served: 2002–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

02/12/2008: Failed to Pass in Committee

View Entire History

Summary

Land preservation tax credit; elimination of verification of conservation value.  Eliminates Department of Conservation and Recreation verification of conservation value of land donations that will result in $1 million or more in land preservation tax credits. Currently, as a condition of the issuance of a land preservation tax credit, the Department must verify the conservation value of donations that will result in $1 million or more in tax credits.

The bill also would establish a review and administrative appeal process in which proposed conveyances of donations would be reviewed by the Department of Taxation for purposes of determining whether the proposed donation would qualify for a land preservation tax credit. The review process would eliminate the current requirement that the taxpayer execute or record the land donation prior to applying for a land preservation tax credit.