Land preservation tax credit; assessments of additional tax. (HB1462)

Introduced By

Del. Michael Webert (R-Marshall) with support from co-patron Del. Randy Minchew (R-Leesburg)

Progress

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

Description

Land preservation tax credit; assessments of additional tax. Provides that any additional tax or penalty relating to the claiming of a land preservation tax credit be assessed by the Department of Taxation within one year of the filing date of the income tax return on which the credit was claimed. The bill provides that no court action could be undertaken after the expiration of the one-year period for the collection of any such additional tax that was not assessed during the one-year period.

The bill would only apply to land preservation tax credits issued by the Department of Taxation beginning January 1, 2013.

Read the Bill »

Outcome

Bill Has Failed

History

DateAction
12/27/2012Committee
12/27/2012Prefiled and ordered printed; offered 01/09/13 13102103D
12/27/2012Referred to Committee on Finance
01/14/2013Assigned Finance sub: #3
01/17/2013Impact statement from TAX (HB1462)
01/18/2013Subcommittee recommends laying on the table (5-Y 0-N)
02/05/2013Left in Finance