Income tax, state; remainder of revenues transferred to Land Conservation Fund for distribution. (HB447)

Introduced By

Del. Lee Ware (R-Powhatan)

Progress

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

Description

Income tax; land conservation tax credit fee limitations.  Removes the $10,000 cap on the 2 percent fee imposed on the transfer arising from the sale of land conservation tax credits and directs the revenues be paid to the Department of Taxation and the Department of Conservation and Recreation first. The remaining revenues will be transferred to the public or private conservation agencies responsible for enforcing the conservation purposes of the donated interest. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/12/2010Committee
01/12/2010Prefiled and ordered printed; offered 01/13/10 10103100D
01/12/2010Referred to Committee on Finance
01/19/2010Assigned Finance sub: #2
02/02/2010Impact statement from TAX (HB447)
02/03/2010Subcommittee recommends reporting with amendment(s) (10-Y 0-N)
02/10/2010Reported from Finance with substitute (21-Y 1-N) (see vote tally)
02/10/2010Committee substitute printed 10104655D-H1
02/12/2010Read first time
02/15/2010Read second time
02/15/2010Committee substitute agreed to 10104655D-H1
02/15/2010Engrossed by House - committee substitute HB447H1
02/16/2010Read third time and passed House (96-Y 3-N)
02/16/2010VOTE: --- PASSAGE (96-Y 3-N) (see vote tally)
02/17/2010Constitutional reading dispensed
02/17/2010Referred to Committee on Finance
02/18/2010Impact statement from TAX (HB447H1)
02/23/2010Reported from Finance (13-Y 0-N) (see vote tally)
02/24/2010Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/25/2010Read third time
02/25/2010Passed Senate (40-Y 0-N) (see vote tally)
03/03/2010Enrolled
03/03/2010Bill text as passed House and Senate (HB447ER)
03/03/2010Impact statement from TAX (HB447ER)
03/03/2010Signed by Speaker
03/06/2010Signed by President
04/07/2010G Approved by Governor-Chapter 229 (effective 7/1/10)
04/07/2010G Acts of Assembly Chapter text (CHAP0229)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 1 minute.