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Permanent Extension of Conservation and Preservation Easements Sought in House Bill
Historic Preservation Blog from PreservationDirectory.com - Public Policy Department of the National Trust, Conservation and Preservation Easements, public policy, Congressional Historic Preservation Caucus
Contributed By: The National Trust for Historic Preservation's Department of Public Policy
Email The Author: pr@nthp.org
Website: http://www.nthp.org

The National Trust joined a coalition of organizations that sent a letter to all 162 members of the Congressional Historic Preservation Caucus members in the House in support of HR 1831, a bill introduced by Rep. Mike Thompson (DCA) that would make permanent qualified conservation and preservation easements and allow owners of historic properties to carry the remaining value of their easements up to 15 years. Other signatories to the letter included the American Cultural Resources Association, Civil War Preservation Trust, National Association of Preservation Commissions, National Association of Tribal Historic Preservation Officers, National Conference of State Historic Preservation Officers, Preservation Action, and the Society for Historical Archeology.

In August of 2006, the laws relating to donations of qualified conservation contributions, otherwise referred to as preservation and conservation easements, were changed. These changes included increases in the annual amount a taxpayer could deduct for the donation of a qualified conservation contribution from 30 percent to 50 percent of a taxpayer's contribution base (adjusted gross income less net operating loss carrybacks) and an extension of the carry-over period for deductions from five to fifteen years. Qualified farmers and ranchers were given even greater incentives, allowing for these individuals to deduct up to 100 percent of their contribution base and carryover up to fifteen years. These increases were temporary and expired on December 31, 2007 but were renewed for two years in the Farm Bill reauthorization of 2008. HR 1831 has 149 cosponsors to date and has been referred to the House Ways and Means Committee. The Senate companion bill (S. 812) has 21 cosponsors and has been referred to the Finance Committee.

Reprinted by permission of the Public Policy Department of the National Trust

 


Keywords: Public Policy Department of the National Trust, Conservation and Preservation Easements, public policy, Congressional Historic Preservation Caucus

Posted: July 21, 2009
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