Tuesday, March 28, 2023

Bill Provides Tax Credit To Restaurants For Recycling Oyster Shells

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Restaurants and other businesses that recycle oyster shells to help restore oyster populations and the overall health of aquatic life in the Chesapeake Bay could receive a tax credit under legislation that recently passed a Virginia Senate committee. If written into law, the bill would provide tax credits of $4 per bushel for recycled oysters shells up to $1,500 per taxpayer in a taxable year. As it is written now, the credit is subject to an aggregate annual cap of $250,000.

The Senate bill, which was introduced by Senator Monty Mason, who represents Hampton Roads, was referred to the Committee on Agriculture, Conservation, and Natural Resources on January 6. On January 17, it was passed by the committee by a vote of 15 to zero. The bill was then referred to the Finance and Appropriations Committee. A similar bill was introduced to the House of Representatives by Delegate Tim Anderson.

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