ASSEMBLYMAN WOOD CHAMPIONS BILL TO PROTECT OLD GROWTH OAKS
Assemblyman Jim Wood’s bill AB 1958, which would update the Forest Practice Act to allow for restoration of California’s oak woodlands, recently passed through the Assembly Natural Resources Committee with unanimous support.
This bill was sponsored by the Northcoast Regional Land Trust and The Buckeye Conservancy, two local organizations committed to helping conserve working landscapes. Land Trust Executive Director, Michael Cipra said, “This bill proposes common sense solutions to enable private landowners – the stewards of more than 85% of oak woodlands in Humboldt County – to do the right thing and restore our oak woodlands.”
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In a great victory for landowners interested in conservation, the enhanced tax incentive for conservation easement donations has been made permanent. In strong bipartisan action, the House and the Senate voted to pass the bills that include the incentive, and, the president signed it into law on December 18, 2015. The incentive, considered by many to be the most important conservation legislation in 20 years, encourages landowners to place conservation easements on their land to protect natural, scenic and historic resources.
- Raises the deduction a donor can take for donating a conservation easement from 30% of his or her 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.
For more information: www.landtrustalliance.org/issues-action/take-action/tax-incentives
REP. MIKE THOMPSON INTRODUCES BILL TO CONSERVE AGRICULTURAL LANDS AND OPEN SPACES
251 Representatives support making the conservation easement incentive permanent
WASHINGTON, D.C. (May 26, 2011) – Congressmen Mike Thompson (D-CA) and Jim Gerlach (R-PA) introduced the Conservation Easement Incentive Act, landmark legislation that would provide family farmers, ranchers, and other moderate-income landowners with a permanent incentive to donate development rights to their land. By providing tax benefits to landowners who choose conservation, the bill would help preserve our nation’s cherished farm lands and open spaces for future generations. The bill has received broad bipartisan support in the House of Representatives, with 251 original co-sponsors...
Read more at: Conservation Easement Incentive Act of 2011
Congress just renewed the enhanced tax incentive for conservation easement donations!
The incentive will be in effect through December 31, 2011 and be retroactive to January 1, 2010. The enhanced incentive, which applies to a landowner’s federal income tax:
- Raises the deduction a donor can take for donating a voluntary conservation agreement from 30% of their income in any year to 50%;
- Allows farmers and ranchers to deduct up to 100% of their income; and
- Increases the number of years over which a donor can take deductions from 6 to 16 years.
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