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handed out by the state.
Prior to HB5019, landowners who qualified received a tax credit of 50 percent of the fair market value of their land, and there was no limit on how many dollars in tax credits could be given out.
With many large landowners in the state putting their land into easements, the original tax credit program represented a considerable loss of tax revenue for a Virginia in the midst of a budget crunch.
Now, with the passage of HB5019, there will be a 75 million dollar cap on tax credits for fiscal 2006 and a cap
95.1%