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HB 1319STATE · VirginiaIntroduced

Beneficial hardwood management practices; creates a nonrefundable income tax credit.

Beneficial hardwood management practices. Createsa nonrefundable income tax credit for taxable years 2022 through2026 for expenses incurred by a taxpayer for the implementation ofbeneficial hardwood management practices. The credit equals the lesserof the actual expenses or $1,000. The bill requires the Tax Commissioner,in coordination with the State Forester, to establish guidelines for claiming the credit and provides that any unused credit may becarried forward by the taxpayer for five taxable years followingthe taxable year for which the credit was issued.

Voted: 8/4/2022

How representatives voted

317 yea·118 nay·9 other

Action history

  • 8/4/2022Approved by Governor-Chapter 18 (effective on the 1st day of the 4th month following the month
  • 8/4/2022of adjournment of the 2022 Special Session l)
  • 7/28/2022Enrolled Bill communicated to Governor on July 28, 2022
  • 7/28/2022Governor's Action Deadline 11:59 p.m., August 4, 2022
  • 7/21/2022Signed by President
  • 7/20/2022Enrolled
  • 7/20/2022Impact statement from TAX (HB1319ER)
  • 7/20/2022Signed by Speaker
  • 6/17/2022Conference report agreed to by Senate (38-Y 1-N)
  • 6/1/2022Amended by conference committee