3-5.18#2s (Coalfield Employment Enhancement Tax Credit) Tax reform legislation. SB800

State Budget

2015 Session

Budget Amendments - SB800 (Floor Approved)

Bill Order » Item 3-5.18 #2s

Tax reform legislation (language only)

Item 3-5.18 #2s

Item 3-5.18 #2s
Adjustments and Modifications to Tax Collections
Coalfield Employment Enhancement Tax Credit

Language
Page 517, strike lines 17 through 21.

Explanation
(This amendment removes proposed tax reform language related to the Coalfield Employment Enhancement Tax Credit. This language was removed from the SB 1161 substitute, which has passed the Senate.)

Item 3-5.18

Item 3-5.18

§ 3-5.18 LAND PRESERVATION TAX CREDIT

Notwithstanding § 58.1-512, Code of Virginia, or any other provision of law, for taxable years beginning on and after January 1, 2015, the amount of the Land Preservation Tax Credit that may be claimed by each taxpayer, including credit claimed by applying unused credits as provided under subsection C of § 58.1-513, Code of Virginia, shall not exceed $20,000. Any portion of the credit that is unused in any one taxable year because of the limitation imposed by this section may be carried over to the extent usable for the next 13 succeeding taxable years or until the credit is utilized, whichever is sooner.

State Budget

2015 Session

Budget Amendments - SB800 (Floor Approved)

Tax reform legislation (language only)

Item 3-5.18 #2s

Item 3-5.18 #2s

Budget Bill

2014 - 2016 Biennium

Budget Amendments

2014 - 2016 Biennium

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Item 3-5.18