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Georgia Gov. Perdue Signs Legislation Creating Tax Credit for Land Conservation
Georgia landowners have an additional incentive to protect their land now that Governor Sonny Perdue has signed the Conservation Tax Credit legislation (H.B. 1107) into law on April 21, 2006. Conservation organizations across the state, including Land Trust Alliance, The Nature Conservancy, the Georgia Land Trust Service Center, the Georgia Conservancy, the Georgia Wildlife Federation, the Trust for Public Land and The Conservation Fund, applaud and support the Governor for introducing and signing off on this legislation. The conservation tax credit program provides incentives to Georgia landowners to keep their land undeveloped or as forests through the use of a conservation easements. For Georgia taxpayers, conservation easements help keep land in private hands, and the land remains on the county tax digest. For the public, these voluntary land conservation agreements help provide such benefits as protecting drinking water supplies at no cost to the taxpayer. Corporations in Georgia that donate land or a conservation easement to the state, a county, a municipality, or a charitable nonprofit organization could receive a tax credit of up to $500,000. Individuals who donate conservation land could be eligible for a tax credit of up to $250,000.
From an economic and ecological perspective, the conservation tax credit program has the opportunity to provide millions of dollars in benefits to Georgia – including protecting statewide economic drivers like forestry and commercial fisheries, as well as outdoor recreational opportunities for thousands of residents and tourists — while protecting habitat that is essential for maintaining wildlife and water quality. "The Land Conservation Tax Credit creates a new incentive for private landowners to participate in Georgia's land conservation efforts," Governor Perdue said in a written statement. "It represents a free market approach to conservation by encouraging individuals and corporations to donate perpetual conservation easements of land to the state, a local government or a qualified charity," he added.
Hans Neuhauser, executive director for the Georgia Land Trust Service Center, said "Governor Perdue’s land conservation tax credit program, enacted with unanimous bipartisan support by the legislature, will significantly increase the incentives for Georgians enter into these agreements. The result will be the permanent protection of lands that protect water quality, lands that support farms and forestry, lands that provide natural habitats and recreation uses such as hunting and fishing, lands that preserve historic sites, and lands that provide other important conservation values. Georgians, both present and future, will reap the benefits of this new initiative.” The bill was unanimously approved by the Georgia Senate March 1, 2006 and by the House February 8, 2006. It was signed into law by Governor Perdue on April 21, 2006. Text of H.B. 1107 is available at http://www.legis.state.ga.us/legis/2005_06/ Learn more about Land Trust Alliance's Southeast Program
updated 5/15/06 | ||||||
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