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. 

Click here for a list of Co-Sponsors

Source: Land Trust Alliance

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