SB 451

Abstract

Corporate income tax; distribution of revenues; state parks. Requires five percent beginning July 1, 2024, of all corporate income tax revenues to be distributed to the State Park Conservation Resources Fund to provide (i) free entry to Virginia state parks and (ii) the conservation, development, maintenance, and operations of state parks acquired or held by the Department of Conservation and Recreation as provided in the appropriation act. The bill provides that such distribution shall not reduce the total amount of annual appropriations for the Department and the Fund below the total amounts appropriated for the most recent fiscal year ending before July 1, 2024, except as provided by a subsequent appropriation act.

A BILL to amend and reenact § 10.1-202 of the Code of Virginia and to amend the Code of Virginia by adding a section numbered 58.1-400.01, relating to corporate income tax; distribution of revenues; state parks. 24100153D