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Advocates Alert: Senator Baucus Introduces Conservation Incentive Bill

On January 31, 2007, Senator Max Baucus (D-MT) introduced S. 469, a bill that would make the newly expanded tax incentive for conservation easement donations permanent.  Senator Charles Grassley (R-IA) co-sponsored the bill.

The bill permanently extends the tax incentive for conservation easement donations passed by Congress in late 2006.  This incentive:

• Raises the deduction a landowner can take for donating a conservation easement from 30% of their income in any year to 50%;
• Allows qualifying farmers and ranchers to deduct up to 100% of their income; and
• Extends the carry-forward period for a donor to take tax deductions for a voluntary conservation agreement from 5 to 15 years.

Currently, the 2006 law will expire at the end of this year.  S. 469 would prevent that, and permanently ensure donations of conservation easements are a possibility for modest income level landowners. 

Please take the time to thank Senator Baucus and Senator Grassley for helping the conservation work of land trusts!  If you live in the home state of the sponsor or cosponsor, please email them to tell them how much you appreciate their support for private land conservation!  To email a sponsor, go to www.baucus.senate.gov and www.grassley.senate.gov .

Status and Next Steps

Senator Baucus is the Chairman of the Senate Finance Committee, and Senator Grassley is the Ranking Member.  We couldn’t have started out better than having the two leaders of the committee on our side.  Please take the time to thank them!  In the coming weeks, we will ask for your help getting your Senators to join as a cosponsor of S. 469.
 
We will keep you updated as things progress and let you know the best time to contact your Senators and Representatives.  If you have a special connection with a member of Congress email policy@lta.org!  

Go here to see the Press Release or return to the tax incentive page. See the Baucus' statement and the bill text here!

See Senator Baucus' press release here!

Click here for a fact sheet explaining the new tax incentive and S. 469!

Thanks!

Sincerely,