Bill > HB1183

This bill increases the maximum amount of land preservation tax credits that may be issued in a calendar year from $75 million to $100 million, beginning in 2024. The bill also provides for an annual adjustment of the $100 million maximum based on changes in the Consumer Price Index. Additionally, the bill requires the Governor to include in the state budget a recommended appropriation from the general fund to cover the difference between the adjusted $100 million maximum and the statutory $100 million amount, up to $25 million. The funds would be allocated to the Virginia Land Conservation Fund, the Virginia Battlefield Preservation Fund, and the Virginia Farmland Preservation Fund.