2017 Session

Budget Amendments - SB900 (Member Request)

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Chief Patron: Reeves
Historic Rehabilitation Tax Credit (language only)

Item 376 #3s

Item 376 #3s

Natural Resources
Department of Historic Resources


Page 372, following line 2, insert:

"K. Notwithstanding any other provision of law and beginning on and after January 1, 2018, no credits shall be issued pursuant to the provisions of §58.1- 339.2 for any calendar year unless (i)  the Joint Subcommittee to Evaluate Tax Preferences recommends that credits be issued for the specific calendar year and (ii) the issuance of such credits is expressly authorized by the general appropriation act or any amendments thereto.".


(This amendment places an annual sunset on claims against the Historic Rehabilitation Tax Credit so that progress and improvements can be assessed by the Joint Subcommittee to Evaluate Tax Preferences.)