Land preservation tax credit; conveyance for public parks or public recreational facilities. (SB838)

Introduced By

Sen. Patsy Ticer (D-Alexandria) with support from co-patron Del. Joe Bouchard (D-Virginia Beach)

Progress

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

Description

Land preservation tax credit; conveyance for public parks or public recreational facilities. Provides that the land preservation tax credit would equal 60 percent of the fair market value of any land that is donated to a state or local governmental entity for the purpose of a public park or public recreational facility. The 60 percent tax credit would apply only if (i) the responsible authorities of a park authority or local park agency or the Department of Conservation and Recreation execute a written document stating its acceptance of the donation, and (ii) the conveyance is in accordance with the current comprehensive plans of the counties or cities in which the donated land is located. All other donations under the land preservation tax credit would not be affected by the bill and would be eligible for a 40 percent tax credit as provided under current law. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
12/22/2008Referred to Committee on Transportation
12/22/2008Prefiled and ordered printed; offered 01/14/09 096559336
12/22/2008Referred to Committee on Finance
01/07/2009Introduced bill reprinted 096559336
01/14/2009Constitutional reading dispensed (40-Y 0-N)
01/16/2009Impact statement from TAX (SB838)
01/28/2009Reported from Finance (8-Y 7-N) (see vote tally)
01/29/2009Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/30/2009Read second time and engrossed
02/02/2009Read third time and passed Senate (21-Y 18-N) (see vote tally)
02/09/2009Impact statement from TAX (SB838)
02/11/2009Placed on Calendar
02/11/2009Read first time
02/11/2009Referred to Committee on Finance
02/11/2009Assigned Finance sub: 1
02/11/2009Subcommittee recommends reporting with amendment(s)
02/16/2009Tabled in Finance (11-Y 9-N) (see vote tally)