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Federal Tax Incentives To:
The Land Trust Policy Network
From: Althea Dotzour, Outreach and Policy Coordinator
Date: March 14, 2007
RE: Expanded tax incentive legislation looking for cosponsors
Greetings on this warm, spring-like day. I received
the following policy alert from the Land Trust Alliance. I encourage
you to contact your Representatives to ask them to cosponsor this
legislation. Contact information is available on Gathering Waters'
website.
It is nice to be sending out a message asking for support of a positive
piece of legislation! If you have questions, you can reach me via
my contact information below.
~Althea Dotzour
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Representatives Mike Thompson (D-CA) and Dave
Camp (R-MI) may introduce their bill to make the newly expanded
tax incentive for conservation easement donations permanent as early
as this week.
Please contact your Representative today and ask
them to be an original cosponsor of the bill! Tell them how important
this tax incentive is to land conservation in your local community
and to your conservation work. To find your representative visit
www.house.gov.
Ask your Representative to become a cosponsor
by contacting Elizabeth Thomas for Congressman Thompson at 202-225-3311or
Joanna Foust for Congressman Camp at 202-225-3561.
We will keep you updated as events progress and
will let you know if further contact to your Senators and Representatives
is necessary to move the bill forward. If you have a special connection
with a member of Congress email policy@lta.org!
Similar legislation (S.469) has been introduced
by Senators Max Baucus (D-MT) and Charles Grassley (R-IA). President
Bush's fiscal year 2008 budget also supports making the new incentive
permanent.
The bill permanently extends the tax incentive
for conservation easement donations passed by Congress in late 2006.
This incentive:
* Raises the deduction a landowner can take for
donating a conservation easement from 30% of their 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.
Currently, the 2006 law will expire at the end
of 2007. This House bill would prevent that, and permanently ensure
donations of conservation easements are a possibility for modest
income level landowners.
For more information including talking points
go to http://www.lta.org/publicpolicy/tax_incentives_updates.htm
Thanks!
Russ Shay
Director of Public Policy
Deanna Eastman
Public Policy Specialist
Land Trust Alliance
Sign up to be a Land Trust ADVOCATE at: http://www.lta.org/publicpolicy/advocates.htm
Land Trust Alliance ~ 1331 H Street NW, Suite 400 ~ Washington DC,
20005 ~ (202) 638-4725
To
learn more about this issue, visit the Land Trust Alliance's policy
website.
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