Forever Forests applauds Senators Max Baucus (D-MT) and Charles Grassley (R-IA) for introducing the Rural Heritage Conservation Act, S. 812
Atlanta, April 6, 2009: Two important bills – H.R. 1831 and S. 812 – have been introduced in Congress to make the enhanced conservation easement tax incentive permanent. Senators Max Baucus (D-MT) and Charles Grassley (R-IA) have already signed on as a co-sponsor of this legislation, which will aid in the protection of millions of acres of America’s agricultural lands, historic landscapes, natural resources and wide open spaces. The expiring incentive allows modest-income landowners to receive significant tax savings for donating conservation easements that permanently protect important resources on their land.
Importantly, the enhanced incentive is an invaluable conservation tool that Forever Forests has used to protect over 10,000 acres since it was first enacted in 2006. The tax savings have benefited many local landowners who have recently conserved their land with us; the incentive has also helped to increase landowner interest in working with us to conserve their land.
The 2008 Farm Bill recently extended a 2006 incentive that enables family farmers, ranchers, and other moderate-income landowners to get a significant tax benefit for donating a conservation easement on their land. The legislation allows easement donors to:
- Deduct up to 50% of their adjusted gross income in any year (up from 30%);
- Deduct up to 100% of their adjusted gross income if the majority of that income came from farming, ranching or forestry; and
- Continue to take deductions for as long as 16 years (up from 6 years).
Forever Forests champions these bills and is working with our Congressional delegation as well as the Land Trust Alliance to secure their passage to make the incentive permanent.
Generous landowners who donate voluntary conservation easements to a land trust are inspired by many things: they love the region and territory, they feel connected to their land, and they wish to leave a legacy for future generations. This inspiration is central to our work to permanently protect valuable natural resources.
For almost all of our donors, donating a conservation easement is a major financial decision, and the federal income tax deduction that comes with a donation helps make easements possible for landowners in our community. Unless Congress acts, those federal tax benefits will be dramatically scaled back at the end of 2009.
Each day we are touched by the generous and inspired landowners who work with us. A permanent incentive will make it easier for others in our community to build on their love of the land and permanently protect valuable lands for future generations.
Land conservation takes a team to be successful. We thank our conserved landowners and our Congressional delegation for their invaluable contributions.
To learn more about these new developments, visit: www.foreverforests.net or www.LandTrustAlliance.org
Contact: Nancy Zak
Forever Forests
Phone: 770-345-9457
Fax: 770-479-5494
