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Background on the Conservation Tax Incentive
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Senator
Max Baucus (D-MT) at the September reception held
to thank members of congress and other supporters
of the tax incentive. Story
and more photos. |
Family farmers, ranchers, and other moderate-income landowners can now obtain a significant tax benefit for making the charitable donation of a conservation easement.
On August
3, 2006 the
Congress approved a tremendous expansion of the federal
conservation tax incentive for conservation easement donations. On
August 17, the President signed it into law. This
is a great victory for conservation!
The victory is due in large part to the work of individuals from hundreds of land trusts across the country, who made this a local issue for their Senators and Representatives. Thank you!
The new law:
- 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.
It is also important
to note that this only applies to easements donated in 2006 and
2007. We will work hard to make
this change permanent - and we will need your help on that next
year!
The bill also includes sensible reforms that affect the appraisal
process for all donated property and tighten the rules for easements
on historic buildings. The bill language is slightly different
than what was passed last Fall by the Senate. All land trusts should
make sure the appraisers they and their donors work with know about
the new rules.
What an amazing year for land conservation! A little more
than a year ago, the land trust community was working hard to defend against
draconian proposals by the Joint Committee on Taxation to end tax incentives
for conservation donations. Today we are celebrating a tremendous victory
for conservation.
Use the links above to find our tax incentive resources, learn about media coverage, and get answers to your questions.
THANK YOUR MEMBERS OF CONGRESS
Let your members of Congress know how much this means to your land trust and land conservation in America. Contact your members of Congress and tell them:
- How
much you appreciate their help in passing the incentive
in the pensions bill.
- This conservation easement incentive is a tremendous benefit to your community and your conservation work.
- You
look forward to working with them in the future to
make this incentive permanent.
Not sure whether you should contact your Senator or Representative? Learn more here
Phone numbers for your Senators' and Representatives' Washington DC offices can be found at www.senate.gov and www.house.gov. You should speak to the staff person that handles tax issues, and make sure that you tell the staff of any prior relationship your land trust has had with the office.
Your congressional office wants to hear from you, and there couldn't be a more important time to thank them for passing the pensions bill!
Questions? Call Land Trust Alliance at 202-638-4725, or e-mail policy@lta.org
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Be sure to visit Conservation Tax Incentive Resources page.
Numerous land trusts supported this legislation.
A
variety of sportsmen’s and conservation organizations supported
the incentive proposal, including:
American
Bird Conservancy
American Farmland Trust
American Fisheries Society
American Sportfishing Association
Archery Trade Association
ArrowSport
BASS/ESPN Outdoors
Bear Trust International
Berkley Conservation Institute
Bowhunting Preservation Alliance
Campfire Club of America
Civil War Preservation Trust
Dallas Safari Club
Ducks Unlimited
Houston Safari Club
Association of Fish and Wildlife Agencies
Izaak Walton League of America
Land Trust Alliance
National Audubon Society
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National
Shooting Sports Foundation
North American Grouse Partnership
Pheasants Forever
Piedmont Environmental Council
Quail Unlimited
Quality Deer Management Association
Rocky Mountain Elk Foundation
Safari Club International
Scenic America
Texas Wildlife Association
The Conservation Fund
The Nature Conservancy
The Wildlife Society
Theodore Roosevelt Conservation Partnership
Trout Unlimited
Trust for Public Land
Whitetails Unlimited
Wildlife Management Institute |
updated 3/5/07
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