Support Conservation Easement Incentive Act
| May 29, 2014
Call your U.S. Representative to seek his or her support for the Conservation Easement Incentive Act (H.R. 2807) which is scheduled to be considered by the U.S. House Ways and Means Committee today (Thursday, May 29).
This important legislation will provide permanent tax incentives to family farmers, ranchers and other landowners who make conservation donations that benefit wildlife, enhance hunting, fishing and shooting access and keep working lands working and intact.
Currently, landowners who make conservation-related donations can deduct the fair market value of their donation, up to 30 percent of their adjusted gross income, in the year of the donation and over a subsequent 5 year carry-forward period.
By increasing the cap to 50 percent for all donors, removing the cap for farmers and ranchers and extending the carry forward period to 15 years, the enhanced deductions afford "land rich, cash poor" farmers and ranchers the same deductions, for the same donations, that high income donors already receive under the tax code.
In short, the enhanced deductions remedy an inequity in the tax code by leveling the playing field for lower income donors. First enacted in 2006, the enhanced deductions expired at the end of 2013 despite far reaching bipartisan support for their continuation.
Permanent authorization of these important deductions is a cost-effective way to facilitate voluntary, private-sector alternatives to government led conservation efforts while also making the tax system fairer and simpler for family farmers, ranchers and forest owners.
Call the U.S. House switchboard (202) 224-3121 today to be connected to your U.S. Representative.—courtesy National Shooting Sports Foundation