New bill looks to curb abuses of this charitable tax deduction for land preservation

new bill looks to curb abuses of this charitable tax deduction for land preservation

Sumary of New bill looks to curb abuses of this charitable tax deduction for land preservation:

  • The bill, named the Charitable Conservation Easement Program Integrity Act of 2021, has been included in the House Democrats’ budget reconciliation package.
  • Conservation easements enable property owners who give up certain rights to use or develop land to get a charitable tax deduction to help offset the financial loss.
  • “The package cracks down on bad actors who abuse the conservation easement program, one of the best tools at our disposal to promote the conservation of land, while saving taxpayers billions of dollars,” Thompson said of the reconciliation measure in a recent hearing.

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