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2024 Session

Budget Amendments - SB30 (Floor Approved)

Land Preservation Tax Credit Claimed (language only)

Item 3-5.22 #1s

Item 3-5.22 #1s

Transfers
Land Preservation Tax Credit Claimed

Language
Page 579, after line 52, insert:

"3-5.22 LAND PRESERVATION TAX CREDIT CLAIMED$0$0

Notwithstanding § 58.1-512 or any other provision of law, effective for the taxable year beginning on and after January 1, 2024, 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 restores the Land Preservation Tax credit cap per taxpayer at $20,000 as it exists in Chapter 1, 2023 Special Session I.)