Legislative record
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