CHAPTER 625

An Act to amend the Code of Virginia by adding a section numbered
§8-81.8, to permit deductions from gross income for taxpayers donat-
ing scenic easements to the federal, State or local governments or

agencies thereof.
{H 8381

Approved April 5, 1966

Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia be amended by adding a section —
58-81.3, as follows:

— «§ 58-81.3. Taxpayers reporting income as prescribed by this chapter
shall be allowed, in addition to any other deductions, a deduction for the
fair market value at the time of contribution of any property, easement
or right-of-way donated by the taxpayer to the federal, State or local
government, or any agency thereof, for purposes of preserving natural
scenic beauty. The amount of the deduction allowable under this section
may be applied to the taxpayer’s income for the year in which such dona-
tion was made or may be carried forward to the next succeeding taxable
year and annually thereafter for a total period of three years next succeed-
ing the year of such donation. Such contribution shall be allowable as a
deduction only if verified under rules and regulations prescribed by the
Department of Taxation and in an amount in any year which when com-
bined with all other gifts of the taxpayer does not exceed fifteen per
centum of the taxpayer’s adjusted gross income.