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2022 Session

Budget Amendments - HB30 (Member Request)

Chief Patron: Wilt
Remove Cap on Agricultural Best Management Practices Tax Credit (language only)

Item 3-5.24 #1h

Item 3-5.24 #1h

Adjustments and Modifications to Tax Collections
Department of Taxation

Language
Page 564, after line 21, insert:

"3-5.24 LIMIT ON AGRICULTURE BEST MANAGEMENT PRACTICES TAX CREDIT$0$0

Page 564, after line 21, insert:

"Notwithstanding the provisions of the third enactment of Chapter 39 of the 2021 Special Session 1 Acts of Assembly or any other provision of law, there shall be no limit on the aggregate amount of tax credits claimed pursuant to §§ 58.1-339.3 and 58.1-439.5 of the Code of Virginia, for fiscal years beginning on or after January 1, 2022."



Explanation

(This amendment provides that there shall be no aggregate annual limit on agricultural best management practices tax credits claims available pursuant to §§ 58.1-339.3 and 58.1-439.5 of the Code of Virginia.)