Menu
2018 Session

Budget Amendments - SB30 (Floor Approved)

Limitation on Land Preservation Tax Credits Claimed (language only)

Item 3-5.16 #2h

Item 3-5.16 #2h

Adjustments and Modifications to Tax Collections
Land Preservation Tax Credits Claimed

Language
Page 469, after line 14, insert:

"3-5.16 Limitation on Land Preservation Tax Credits Claimed$0$0

Notwithstanding § 58.1-512 or any other provision of law, effective for the taxable year beginning on and after January 1, 2017, but before January 1, 2020, the amount of the Land Preservation Tax Credit that may be claimed by each taxpayer, including amounts carried over from prior taxable years, shall not exceed $20,000."



Explanation

(This amendment continues the per taxpayer cap of $20,000 per year on the amount of land preservation tax credit that can be claimed in any one year that is contained in Chapter 836.)