According to Virginia’s Legislative Information Service, Virginia Governor Terry McAuliffe has now signed House Bill 1828 into law. As reported previously, H.B. 1828 places new limits on the land preservation tax credit, which is a tax incentive designed to encourage donations of conservation easements as well as outright donations of land. Governor McAuliffe approved the bill on March 17, 2015. The bill is being published as Chapter 235 of the 2015 Virginia Acts of Assembly. Continue reading Governor Signs Legislation Placing Limits on Land Preservation Tax Credit
Legislation passed in 1952 required state and local agencies to refer to the reservoir only as “Buggs Island Lake,” which was declared to be the reservoir’s “true and proper name.” Congress had originally given it the name of “Buggs Island Reservoir” in 1944 but abruptly changed the name to the “John H. Kerr Reservoir” in 1951 to honor a North Carolina congressman, angering Virginia lawmakers at the time. The majority of Buggs Island Lake is located in Virginia. Continue reading Governor Signs Bill Allowing Alternate Names for Buggs Island Lake
Virginia is an exceedingly beautiful state. It has a wide variety of topographies and vistas, ranging from the Atlantic coastline to the mountains. In fact, it has such a wide variety that describing it all in a reasonably succinct fashion can be quite difficult.
With the usual budget troubles brewing in Richmond, the land preservation tax credit (LPTC)—a transferable credit that results usually from either a donation of land or a donation of a conservation easement—has once again become the target of much scrutiny by lawmakers. Of the several bills that were introduced to limit the land preservation tax credit, two of these bills have now passed the full General Assembly. These bills, Senate Bill 1019 and House Bill 1828, were both finally approved by the General Assembly on Wednesday, February 18, 2015 and are now en route to the Governor for signature. Let’s examine Senate Bill 1019 and House Bill 1828 and how they will likely change land preservation efforts in Virginia. Continue reading General Assembly Places Limits on Land Preservation Tax Credit
The Virginia House of Delegates voted today, February 13, 2015 to approve Senate Bill 972, which would allow state and local agencies to refer to Buggs Island Lake as “Kerr Lake” or the “John H. Kerr Reservoir.” Previous legislation required state and local agencies to refer to the reservoir only as “Buggs Island Lake.” Continue reading Virginia House Votes to Allow Alternate Names for Buggs Island Lake