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HB 1014 - Income tax; exemption for donation of real property for conservation use; extend sunset date
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Tracking Level: Neutral
Sponsor: Powell, Jay 171st
Last Action: 7/1/2016 - Effective Date
House Committee: W&M
Senate Committee: FIN
Assigned To:
Clint MuellerNext Bill

Staff Analysis of the Legislation

This legislation extends the income tax credit given to those who donate certain property for conservation use to the federal government, the state, counties or cities until December 31, 2021.  If the tax credit is renewed after this date, the Department of Natural Resources is required to provide a report to the Governor, Senate and House that includes the number of applications, the total number of acres donate, the value of the donations accepted into the program, the conservation purposes (i.e., water quality protection; wildlife protection; outdoor recreation protection; prime agricultural or forestry protection; or cultural site, heritage corridor, historic or archeological resource protection) that were the basis of the property qualifying for the credit; the total amount of income tax credits granted; and a list of the direct and indirect benefit to the state.  

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text






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