SENATE BILL 293

File Code: Taxes - Income Prior Year Introduction As: SB 481/04 - B&T Crossfiled with: HOUSE BILL 517

Sponsored By:

Senators Dyson and Forehand

Entitled:

Income Tax Credit for Preservation and Conservation Easements - County Tax Credit Authorized

Synopsis:

Authorizing the governing body of a county to permit a credit against the county income tax for preservation and conservation easements; authorizing a county governing body to determine the amount of the credit and to place any limitations determined to be appropriate on the credit; and requiring a county that adopts a credit against the county income tax for preservation and conservation easements to notify the Comptroller prior to the taxable year in which the credit is applicable.

History by Legislative Date

Senate Action

1/28

First Reading Budget and Taxation

2/23

Hearing 3/11 at 9:30 a.m.

3/21

Favorable Report by Budget and Taxation

3/20

Favorable Report Adopted

Second Reading Passed

3/22

Third Reading Passed (47-0)

House Action

3/23

First Reading Ways and Means

3/30

Hearing 4/7 at 1:00 p.m.

Sponsored by:

Senator Roy P. Dyson, District 29

Senator Jennie M. Forehand, District 17

Bill indexed under the following Subjects:

AGRICULTURE -see also- FARMLAND

CONSERVATION -see also- SOIL CONSERVATION

COUNTIES -see also- CHARTERED COUNTIES; CODE COUNTIES

EASEMENTS

FARMLAND

INCOME TAX

LAWS AND ORDINANCES -see also- PUB LOCAL LAWS; UNIFORM LAWS.

NOTICES

TAX CREDITS -see also- CIRCUIT BREAKER

Bill affects the following Statute:

Tax - General

( 10-723 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal Note (Displayed in PDF Format): Available

Amendments: None offered

Roll Call Vote (Legislative date is shown):

Senate

March 22, 2005: Third Reading Passed (47-0)