Forest Sustainability Fund; fund allocation. Provides that moneys from the Forest Sustainability Fund must be allocated proportionally among localities that forgo tax revenues as a result of the use value assessment and taxation for real estate devoted for forest use. The bill specifies that no locality shall receive an allocation of more than four percent or less than one-half of one percent of available funds from the Fund. This bill is identical to HB 944.

Statutes affected:
Senate: Prefiled and ordered printed; offered 01/10/24 24102271D: 58.1-3242.1
Senate: Bill text as passed Senate and House (SB129ER): 58.1-3242.1
Governor: Acts of Assembly Chapter text (CHAP0703): 58.1-3242.1