Bill > HB1223

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 annual adjustments to the $100 million maximum based on changes in the Consumer Price Index. Additionally, the bill requires the Governor to include an appropriation in the budget to fund the difference between the adjusted maximum and $100 million, up to $25 million, for the Virginia Land Conservation Fund, Virginia Battlefield Preservation Fund, and Virginia Farmland Preservation Fund.