{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-433.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-433.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-433.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-433.1.html"}],"law_id":84600,"edition_id":1,"section_id":84600,"structure_id":13153,"section_number":"58.1-433.1","catch_line":"Virginia Coal Employment and Production Incentive Tax Credit","history":"1999, c. 971; 2000, c. 929; 2006, cc. 788, 803; 2011, cc. 294, 851; 2021, Sp. Sess. I, cc. 553, 554.","full_text":"A\n\nFor taxable years beginning on and after January 1, 2001, but before January 1, 2022, every electricity generator in the Commonwealth shall be allowed a $3-per-ton credit against the tax imposed by § 58.1-400 or 58.1-400.2 for each ton of coal purchased and consumed by such electricity generator, provided such coal was mined in Virginia as certified by such seller. Notwithstanding any other provision of law, no electricity generator shall be allowed more than a $3-per-ton coal tax credit and shall be subject to all limitations set forth in § 58.1-400.2. In no event shall the credit allowed hereunder exceed the total amount of tax liability of such taxpayer. Any tax credit not usable for the taxable year may be carried over to the extent usable for the next 10 succeeding taxable years or until the full credit is utilized, whichever is sooner. For the purposes of the credit provided by this section, “electricity generator” means any person who produces electricity for self-consumption or for sale.B\n\nFor each such ton of coal described in subsection A that is purchased on or after January 1, 2006, but before January 1, 2022, from any person with an economic interest in coal as defined under § 58.1-439.2, the $3-per-ton credit allowed under subsection A may be allocated between such electricity generator and such person with an economic interest in coal. The allocation of the $3-per-ton credit may be provided in the contract between such parties for the sale of such coal. Such allocation may be amended by the execution of a written instrument by the parties prior to December 31 of the year of purchase of such coal. Such contracts and written instruments shall be subject to audit by the Department of Taxation to ensure the proper application of credits.\n\t\t\tIn no case shall the credit allocated for each such ton of coal among such electricity generators and such persons with an economic interest in coal exceed $3 per ton.\n\t\t\tAll credits earned on or after January 1, 2006, but before January 1, 2022, that are allocated to persons with an economic interest in coal as provided under this subsection may be used as tax credits by such persons against the tax imposed by § 58.1-400 and any other tax imposed by the Commonwealth. If the credits earned on or after January 1, 2006, but before January 1, 2022, exceed the state tax liability for the applicable taxable year of such person with an economic interest in coal, the excess shall be redeemable by the Tax Commissioner as set forth in subsection D of § 58.1-439.2, provided that the ability of persons with an economic interest in coal to redeem with the Tax Commissioner credits received pursuant to an allocation under this section shall expire for credits earned under this section on or after July 1, 2016.C\n\nIf tax credits were earned under the provisions of this section prior to January 1, 2022, such credits may continue to be claimed on a return for taxable years on and after January 1, 2022, but only pursuant to the applicable carryover period specified in this section. A taxpayer claiming credits pursuant to the provisions of this subsection shall not claim more than $1 million in credits for a single taxable year. No taxpayer shall amend a return for a taxable year prior to January 1, 2022, to claim more in credits earned under the provisions of this section than such taxpayer stated on such return before amending it.","order_by":null,"text":{"0":{"id":303173,"text":"For taxable years beginning on and after January 1, 2001, but before January 1, 2022, every electricity generator in the Commonwealth shall be allowed a $3-per-ton credit against the tax imposed by § 58.1-400 or 58.1-400.2 for each ton of coal purchased and consumed by such electricity generator, provided such coal was mined in Virginia as certified by such seller. Notwithstanding any other provision of law, no electricity generator shall be allowed more than a $3-per-ton coal tax credit and shall be subject to all limitations set forth in § 58.1-400.2. In no event shall the credit allowed hereunder exceed the total amount of tax liability of such taxpayer. Any tax credit not usable for the taxable year may be carried over to the extent usable for the next 10 succeeding taxable years or until the full credit is utilized, whichever is sooner. For the purposes of the credit provided by this section, “electricity generator” means any person who produces electricity for self-consumption or for sale.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":303174,"text":"For each such ton of coal described in subsection A that is purchased on or after January 1, 2006, but before January 1, 2022, from any person with an economic interest in coal as defined under § 58.1-439.2, the $3-per-ton credit allowed under subsection A may be allocated between such electricity generator and such person with an economic interest in coal. The allocation of the $3-per-ton credit may be provided in the contract between such parties for the sale of such coal. Such allocation may be amended by the execution of a written instrument by the parties prior to December 31 of the year of purchase of such coal. Such contracts and written instruments shall be subject to audit by the Department of Taxation to ensure the proper application of credits.\n\t\t\tIn no case shall the credit allocated for each such ton of coal among such electricity generators and such persons with an economic interest in coal exceed $3 per ton.\n\t\t\tAll credits earned on or after January 1, 2006, but before January 1, 2022, that are allocated to persons with an economic interest in coal as provided under this subsection may be used as tax credits by such persons against the tax imposed by § 58.1-400 and any other tax imposed by the Commonwealth. If the credits earned on or after January 1, 2006, but before January 1, 2022, exceed the state tax liability for the applicable taxable year of such person with an economic interest in coal, the excess shall be redeemable by the Tax Commissioner as set forth in subsection D of § 58.1-439.2, provided that the ability of persons with an economic interest in coal to redeem with the Tax Commissioner credits received pursuant to an allocation under this section shall expire for credits earned under this section on or after July 1, 2016.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":303175,"text":"If tax credits were earned under the provisions of this section prior to January 1, 2022, such credits may continue to be claimed on a return for taxable years on and after January 1, 2022, but only pursuant to the applicable carryover period specified in this section. A taxpayer claiming credits pursuant to the provisions of this subsection shall not claim more than $1 million in credits for a single taxable year. No taxpayer shall amend a return for a taxable year prior to January 1, 2022, to claim more in credits earned under the provisions of this section than such taxpayer stated on such return before amending it.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13153,"edition_id":1,"name":"Tax Credits for Corporations","identifier":"13","label":"article","depth":4,"order_by":1,"parent_id":13152,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":253497,"object_type":"structure","relational_id":13153,"identifier":"13","token":"58.1\/I\/3\/13","url":"\/58.1\/I\/3\/13\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13152,"edition_id":1,"name":"Income Tax","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12837,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":253267,"object_type":"structure","relational_id":13152,"identifier":"3","token":"58.1\/I\/3","url":"\/58.1\/I\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12837,"edition_id":1,"name":"Taxes Administered by the Department of Taxation","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":252075,"object_type":"structure","relational_id":12837,"identifier":"I","token":"58.1\/I","url":"\/58.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59349,"structure_id":13153,"section_number":"58.1-430","catch_line":"Repealed","url":"\/58.1-430\/","token":"58.1\/I\/3\/13\/58.1-430","metadata":false},{"id":79747,"structure_id":13153,"section_number":"58.1-431","catch_line":"Repealed","url":"\/58.1-431\/","token":"58.1\/I\/3\/13\/58.1-431","metadata":false},{"id":87213,"structure_id":13153,"section_number":"58.1-432","catch_line":"Tax credit for purchase of conservation tillage equipment","url":"\/58.1-432\/","token":"58.1\/I\/3\/13\/58.1-432","metadata":false},{"id":78377,"structure_id":13153,"section_number":"58.1-433","catch_line":"Expired","url":"\/58.1-433\/","token":"58.1\/I\/3\/13\/58.1-433","metadata":false},{"id":84600,"structure_id":13153,"section_number":"58.1-433.1","catch_line":"Virginia Coal Employment and Production Incentive Tax Credit","url":"\/58.1-433.1\/","token":"58.1\/I\/3\/13\/58.1-433.1","metadata":false},{"id":72145,"structure_id":13153,"section_number":"58.1-434","catch_line":"Repealed","url":"\/58.1-434\/","token":"58.1\/I\/3\/13\/58.1-434","metadata":false},{"id":62315,"structure_id":13153,"section_number":"58.1-436","catch_line":"Tax credit for purchase of conservation tillage and precision agricultural application equipment","url":"\/58.1-436\/","token":"58.1\/I\/3\/13\/58.1-436","metadata":false},{"id":62397,"structure_id":13153,"section_number":"58.1-437","catch_line":"Repealed","url":"\/58.1-437\/","token":"58.1\/I\/3\/13\/58.1-437","metadata":false},{"id":83316,"structure_id":13153,"section_number":"58.1-438","catch_line":"Not effective","url":"\/58.1-438\/","token":"58.1\/I\/3\/13\/58.1-438","metadata":false},{"id":56216,"structure_id":13153,"section_number":"58.1-438.1","catch_line":"Tax credit for vehicle emissions testing equipment, clean-fuel vehicles and certain refueling property","url":"\/58.1-438.1\/","token":"58.1\/I\/3\/13\/58.1-438.1","metadata":false},{"id":62311,"structure_id":13153,"section_number":"58.1-439","catch_line":"Major business facility job tax credit","url":"\/58.1-439\/","token":"58.1\/I\/3\/13\/58.1-439","metadata":false},{"id":63680,"structure_id":13153,"section_number":"58.1-439.1","catch_line":"Repealed","url":"\/58.1-439.1\/","token":"58.1\/I\/3\/13\/58.1-439.1","metadata":false},{"id":76474,"structure_id":13153,"section_number":"58.1-439.10","catch_line":"Tax credit for purchase of waste motor oil burning equipment","url":"\/58.1-439.10\/","token":"58.1\/I\/3\/13\/58.1-439.10","metadata":false},{"id":85121,"structure_id":13153,"section_number":"58.1-439.11","catch_line":"Repealed","url":"\/58.1-439.11\/","token":"58.1\/I\/3\/13\/58.1-439.11","metadata":false},{"id":59921,"structure_id":13153,"section_number":"58.1-439.12","catch_line":"Riparian forest buffer protection for waterways tax credit","url":"\/58.1-439.12\/","token":"58.1\/I\/3\/13\/58.1-439.12","metadata":false},{"id":71239,"structure_id":13153,"section_number":"58.1-439.12:01","catch_line":"Credit for cigarettes manufactured and exported","url":"\/58.1-439.12_01\/","token":"58.1\/I\/3\/13\/58.1-439.12_01","metadata":false},{"id":80405,"structure_id":13153,"section_number":"58.1-439.12:02","catch_line":" Biodiesel and green diesel fuels producers tax credit","url":"\/58.1-439.12_02\/","token":"58.1\/I\/3\/13\/58.1-439.12_02","metadata":false},{"id":77683,"structure_id":13153,"section_number":"58.1-439.12:03","catch_line":"Motion picture production tax credit","url":"\/58.1-439.12_03\/","token":"58.1\/I\/3\/13\/58.1-439.12_03","metadata":false},{"id":82387,"structure_id":13153,"section_number":"58.1-439.12:04","catch_line":"Tax credit for participating landlords","url":"\/58.1-439.12_04\/","token":"58.1\/I\/3\/13\/58.1-439.12_04","metadata":false},{"id":57964,"structure_id":13153,"section_number":"58.1-439.12:05","catch_line":"Green and alternative energy job creation tax credit","url":"\/58.1-439.12_05\/","token":"58.1\/I\/3\/13\/58.1-439.12_05","metadata":false},{"id":66012,"structure_id":13153,"section_number":"58.1-439.12:06","catch_line":"International trade facility tax credit","url":"\/58.1-439.12_06\/","token":"58.1\/I\/3\/13\/58.1-439.12_06","metadata":false},{"id":58192,"structure_id":13153,"section_number":"58.1-439.12:07","catch_line":"Telework expenses tax credit","url":"\/58.1-439.12_07\/","token":"58.1\/I\/3\/13\/58.1-439.12_07","metadata":false},{"id":84261,"structure_id":13153,"section_number":"58.1-439.12:08","catch_line":"Research and development expenses tax credit","url":"\/58.1-439.12_08\/","token":"58.1\/I\/3\/13\/58.1-439.12_08","metadata":false},{"id":54175,"structure_id":13153,"section_number":"58.1-439.12:09","catch_line":"Barge and rail usage tax credit","url":"\/58.1-439.12_09\/","token":"58.1\/I\/3\/13\/58.1-439.12_09","metadata":false},{"id":78639,"structure_id":13153,"section_number":"58.1-439.12:10","catch_line":"Virginia port volume increase tax credit","url":"\/58.1-439.12_10\/","token":"58.1\/I\/3\/13\/58.1-439.12_10","metadata":false},{"id":85547,"structure_id":13153,"section_number":"58.1-439.12:11","catch_line":"Major research and development expenses tax credit","url":"\/58.1-439.12_11\/","token":"58.1\/I\/3\/13\/58.1-439.12_11","metadata":false},{"id":65654,"structure_id":13153,"section_number":"58.1-439.12:12","catch_line":"Food donation tax credit","url":"\/58.1-439.12_12\/","token":"58.1\/I\/3\/13\/58.1-439.12_12","metadata":false},{"id":54927,"structure_id":13153,"section_number":"58.1-439.2","catch_line":" Coalfield employment enhancement tax credit","url":"\/58.1-439.2\/","token":"58.1\/I\/3\/13\/58.1-439.2","metadata":false},{"id":63351,"structure_id":13153,"section_number":"58.1-439.3","catch_line":"Repealed","url":"\/58.1-439.3\/","token":"58.1\/I\/3\/13\/58.1-439.3","metadata":false},{"id":58298,"structure_id":13153,"section_number":"58.1-439.4","catch_line":"Day-care facility investment tax credit","url":"\/58.1-439.4\/","token":"58.1\/I\/3\/13\/58.1-439.4","metadata":false},{"id":66742,"structure_id":13153,"section_number":"58.1-439.5","catch_line":"Agricultural best management practices tax credit","url":"\/58.1-439.5\/","token":"58.1\/I\/3\/13\/58.1-439.5","metadata":false},{"id":81908,"structure_id":13153,"section_number":"58.1-439.6","catch_line":"Worker retraining tax credit","url":"\/58.1-439.6\/","token":"58.1\/I\/3\/13\/58.1-439.6","metadata":false},{"id":60296,"structure_id":13153,"section_number":"58.1-439.6:1","catch_line":"Worker training tax credit","url":"\/58.1-439.6_1\/","token":"58.1\/I\/3\/13\/58.1-439.6_1","metadata":false},{"id":55856,"structure_id":13153,"section_number":"58.1-439.7","catch_line":"Tax credit for purchase of machinery and equipment used for advanced recycling and processing recyclable materials","url":"\/58.1-439.7\/","token":"58.1\/I\/3\/13\/58.1-439.7","metadata":false},{"id":82497,"structure_id":13153,"section_number":"58.1-439.8","catch_line":"Repealed","url":"\/58.1-439.8\/","token":"58.1\/I\/3\/13\/58.1-439.8","metadata":false},{"id":66196,"structure_id":13153,"section_number":"58.1-439.9","catch_line":"Tax credit for certain employers hiring recipients of Temporary Assistance for Needy Families","url":"\/58.1-439.9\/","token":"58.1\/I\/3\/13\/58.1-439.9","metadata":false}],"previous_section":{"id":78377,"structure_id":13153,"section_number":"58.1-433","catch_line":"Expired","url":"\/58.1-433\/","token":"58.1\/I\/3\/13\/58.1-433","metadata":false},"next_section":{"id":72145,"structure_id":13153,"section_number":"58.1-434","catch_line":"Repealed","url":"\/58.1-434\/","token":"58.1\/I\/3\/13\/58.1-434","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-433.1\/","history_text":"

This law was first created in 1999. The record of its establishment is cataloged in chapter 971<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2000, chapter 929<\/a>; in 2006, chapters 788<\/a> and 803<\/a>; in 2011, chapters 294<\/a> and 851<\/a>.<\/p>","references":[{"id":54927,"section_number":"58.1-439.2","catch_line":" Coalfield employment enhancement tax credit","order_by":null,"url":"\/58.1-439.2\/"}],"refers_to":[{"id":60955,"section_number":"58.1-400","catch_line":"Imposition of tax","order_by":null,"url":"\/58.1-400\/"},{"id":77310,"section_number":"58.1-400.2","catch_line":"Taxation of electric suppliers, pipeline distribution companies, gas utilities, and gas suppliers","order_by":null,"url":"\/58.1-400.2\/"},{"id":54927,"section_number":"58.1-439.2","catch_line":" Coalfield employment enhancement tax credit","order_by":null,"url":"\/58.1-439.2\/"}],"permalink":{"id":253515,"object_type":"law","relational_id":84600,"identifier":"58.1-433.1","token":"58.1\/I\/3\/13\/58.1-433.1","url":"\/58.1-433.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-433.1\/","token":"58.1\/I\/3\/13\/58.1-433.1","dublin_core":{"Title":"Virginia Coal Employment and Production Incentive Tax Credit","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-433.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> For taxable years beginning on and after January 1, 2001, but before January 1, 2022, every electricity generator<\/span> in the Commonwealth shall be allowed a $3-per-ton credit against the tax imposed by § 58.1-400<\/a> or 58.1-400.2<\/a> for each ton of coal purchased and consumed by such electricity generator<\/span>, provided such coal was mined in Virginia as certified by such seller. Notwithstanding any other provision of law<\/span>, no electricity generator<\/span> shall be allowed more than a $3-per-ton coal tax credit and shall be subject to all limitations set forth in § 58.1-400.2<\/a>. In no event shall the credit allowed hereunder exceed the total amount of tax liability of such taxpayer<\/span>. Any tax credit not usable for the taxable year may be carried over to the extent usable for the next 10 succeeding taxable years or until the full credit is utilized, whichever is sooner. For the purposes of the credit provided by this section, “electricity generator<\/span>” means any person who produces electricity for self-consumption or for sale. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> For each such ton of coal described in subsection A that is purchased on or after January 1, 2006, but before January 1, 2022, from any person with an economic interest in coal as defined under § 58.1-439.2<\/a>, the $3-per-ton credit allowed under subsection A may be allocated between such electricity generator<\/span> and such person with an economic interest in coal. The allocation of the $3-per-ton credit may be provided in the contract<\/span> between such parties for the sale of such coal. Such allocation may be amended by the execution of a written instrument by the parties prior to December 31 of the year of purchase of such coal. Such contracts<\/span> and written instruments shall be subject to audit by the Department<\/span> of Taxation to ensure the proper application of credits.\n\t\t\tIn no case shall the credit allocated for each such ton of coal among such electricity generators<\/span> and such persons with an economic interest in coal exceed $3 per ton.\n\t\t\tAll credits earned on or after January 1, 2006, but before January 1, 2022, that are allocated to persons with an economic interest in coal as provided under this subsection may be used as tax credits by such persons against the tax imposed by § 58.1-400<\/a> and any other tax imposed by the Commonwealth. If the credits earned on or after January 1, 2006, but before January 1, 2022, exceed the state tax liability for the applicable taxable year of such person with an economic interest in coal, the excess shall be redeemable by the Tax Commissioner<\/span> as set forth in subsection D of § 58.1-439.2<\/a>, provided that the ability of persons with an economic interest in coal to redeem with the Tax Commissioner<\/span> credits received pursuant to an allocation under this section shall expire for credits earned under this section on or after July 1, 2016. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If tax credits were earned under the provisions of this section prior to January 1, 2022, such credits may continue to be claimed on a return for taxable years on and after January 1, 2022, but only pursuant to the applicable carryover period specified in this section. A taxpayer<\/span> claiming credits pursuant to the provisions of this subsection shall not claim more than $1 million in credits for a single taxable year. No taxpayer<\/span> shall amend<\/span> a return for a taxable year prior to January 1, 2022, to claim more in credits earned under the provisions of this section than such taxpayer<\/span> stated on such return before amending it. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nVIRGINIA COAL EMPLOYMENT AND PRODUCTION INCENTIVE TAX CREDIT (\u00a7 58.1-433.1)\n\nA. For taxable years beginning on and after January 1, 2001, but before January\n1, 2022, every electricity generator in the Commonwealth shall be allowed a\n$3-per-ton credit against the tax imposed by § 58.1-400 or 58.1-400.2 for\neach ton of coal purchased and consumed by such electricity generator, provided\nsuch coal was mined in Virginia as certified by such seller. Notwithstanding any\nother provision of law, no electricity generator shall be allowed more than a\n$3-per-ton coal tax credit and shall be subject to all limitations set forth in\n§ 58.1-400.2. In no event shall the credit allowed hereunder exceed the\ntotal amount of tax liability of such taxpayer. Any tax credit not usable for\nthe taxable year may be carried over to the extent usable for the next 10\nsucceeding taxable years or until the full credit is utilized, whichever is\nsooner. For the purposes of the credit provided by this section,\n“electricity generator” means any person who produces electricity\nfor self-consumption or for sale.\n\nB. For each such ton of coal described in subsection A that is purchased on or\nafter January 1, 2006, but before January 1, 2022, from any person with an\neconomic interest in coal as defined under § 58.1-439.2, the $3-per-ton\ncredit allowed under subsection A may be allocated between such electricity\ngenerator and such person with an economic interest in coal. The allocation of\nthe $3-per-ton credit may be provided in the contract between such parties for\nthe sale of such coal. Such allocation may be amended by the execution of a\nwritten instrument by the parties prior to December 31 of the year of purchase\nof such coal. Such contracts and written instruments shall be subject to audit\nby the Department of Taxation to ensure the proper application of credits.\n\t\t\tIn no case shall the credit allocated for each such ton of coal among such\nelectricity generators and such persons with an economic interest in coal exceed\n$3 per ton.\n\t\t\tAll credits earned on or after January 1, 2006, but before January 1, 2022,\nthat are allocated to persons with an economic interest in coal as provided\nunder this subsection may be used as tax credits by such persons against the tax\nimposed by § 58.1-400 and any other tax imposed by the Commonwealth. If the\ncredits earned on or after January 1, 2006, but before January 1, 2022, exceed\nthe state tax liability for the applicable taxable year of such person with an\neconomic interest in coal, the excess shall be redeemable by the Tax\nCommissioner as set forth in subsection D of § 58.1-439.2, provided that\nthe ability of persons with an economic interest in coal to redeem with the Tax\nCommissioner credits received pursuant to an allocation under this section shall\nexpire for credits earned under this section on or after July 1, 2016.\n\nC. If tax credits were earned under the provisions of this section prior to\nJanuary 1, 2022, such credits may continue to be claimed on a return for taxable\nyears on and after January 1, 2022, but only pursuant to the applicable\ncarryover period specified in this section. A taxpayer claiming credits pursuant\nto the provisions of this subsection shall not claim more than $1 million in\ncredits for a single taxable year. No taxpayer shall amend a return for a\ntaxable year prior to January 1, 2022, to claim more in credits earned under the\nprovisions of this section than such taxpayer stated on such return before\namending it.\n\nHISTORY: 1999, c. 971; 2000, c. 929; 2006, cc. 788, 803; 2011, cc. 294, 851;\n2021, Sp. Sess. I, cc. 553, 554.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}