diff --git a/src/actions/vstudio/vs2005_csproj.lua b/src/actions/vstudio/vs2005_csproj.lua
index 76bd6a7e..a494131f 100644
--- a/src/actions/vstudio/vs2005_csproj.lua
+++ b/src/actions/vstudio/vs2005_csproj.lua
@@ -321,19 +321,48 @@
 		end)
 	end
 
+--
+-- Builds a list of all .NET Framework versions up to and including the
+-- project's framework version.
+--
+
+	function cs2005.identifyFrameworkVersions(prj)
+		local frameworks = {}
+
+		local cfg = p.project.getfirstconfig(prj)
+		local action = premake.action.current()
+		local targetFramework = cfg.dotnetframework or action.vstudio.targetFramework
+		targetFramework = "net" .. targetFramework:gsub("%.", "")
+
+		for k, frameworkVersion in ipairs(vstudio.frameworkVersions) do
+			if k == #vstudio.frameworkVersions then
+				break
+			end
+
+			local nextFrameworkVersion = vstudio.frameworkVersions[k + 1]
+
+			-- Compare the versions with the "net" prefix stripped.
+			if tonumber(targetFramework:sub(4)) >= tonumber(nextFrameworkVersion:sub(4)) then
+				table.insert(frameworks, frameworkVersion)
+			end
+		end
+
+		table.insert(frameworks, targetFramework)
+
+		return frameworks
+	end
+
 	function cs2005.nuGetReferences(prj)
 		if _ACTION >= "vs2010" then
 			for i = 1, #prj.nuget do
 				local package = prj.nuget[i]
 				_x(2, '<Reference Include="%s">', vstudio.nuget2010.packageId(package))
 
-				local targetFramework = vstudio.nuget2010.packageFramework(prj.solution, package)
-
 				-- We need to write HintPaths for all supported framework
 				-- versions. The last HintPath will override any previous
 				-- HintPaths (if the condition is met that is).
 
-				local function writeHintPath(frameworkVersion)
+				for _, frameworkVersion in ipairs(cs2005.identifyFrameworkVersions(prj)) do
 					local assembly = vstudio.path(
 						prj,
 						p.filename(
@@ -350,21 +379,6 @@
 					_x(3, '<HintPath Condition="Exists(\'%s\')">%s</HintPath>', assembly, assembly)
 				end
 
-				for k, frameworkVersion in ipairs(vstudio.frameworkVersions) do
-					if k == #vstudio.frameworkVersions then
-						break
-					end
-
-					local nextFrameworkVersion = vstudio.frameworkVersions[k + 1]
-
-					-- Compare the versions with the "net" prefix stripped.
-					if tonumber(targetFramework:sub(4)) >= tonumber(nextFrameworkVersion:sub(4)) then
-						writeHintPath(frameworkVersion)
-					end
-				end
-
-				writeHintPath(targetFramework)
-
 				_p(3, '<Private>True</Private>')
 				_p(2, '</Reference>')
 			end