Summary of House Bill 11-1300
Congress renewed the enhanced
tax incentive for conservation easements
with the passage of HR 4853. This incentive
will be in effect through December 31, 2011
and will be retroactive to January 1, 2010.
This means the incentive applies to both
2010 and 2011 donations.
HR 4853 increases the income
tax deduction a landowner can claim for
donating a conservation easement from 30%
to 50% of their Adjusted Gross Income (AGI).
Qualified farmers and ranchers, whose income
from ranching and farming is at least 50%
of their AGI, can deduct up to 100% of their
income as a federal deduction.
HR 4853 also increases the
number of years a landowner can carry over
this deduction from 6 to 16 years or until
the deduction is used.
For detailed information on the incentive,
please visit the Land Trust Alliance’s
website at: http://www.landtrustalliance.org/