Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 3 · column 1 of 6 · from the scan, no model involved
Tax
From Page A1
General Assembly recently passed legislation that would reduce the tax credit from 50% to 40% of the value of a donated easement, institute an annual cap of $75 million on the program and add new restrictions. Governor Tim Kaine amended the legislation, making major improvements, which include raising the annual cap to $100 million. The General Assembly passed the amended version on Monday, August 28, and it will become effective in 2007.
The Virginia Land Preservation Tax Credit has proven itself as an effective incentive, and even with these moderate reductions, it remains a powerful tool for encouraging voluntary, private conservation. This tax credit is especially effective because of its unique flexibility. Any unused credits can be transferred or sold, making the incentive valuable for landowners without large incomes.
“Taken together, the changes to the federal and the state tax incentives will mean an overall improvement for many landowners,”
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