SB744: Land preservation tax credit; establishes process where properties are registered with Dept. of Tax.

Chief Patron

Sen. Emmett Hanger (R-24)

Emmett Hanger (R-24)
Served: 1996–

Progress

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

Status

01/23/2008: Failed to Pass in Committee

View Entire History

Summary

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.