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Federal Tax Incentives
Land
Trust Alliance Advocates email alert:
This morning, the Senate Finance Committee approved the "Habitat
and Land Conservation Act of 2007" by unanimous voice vote. This
bill includes the provisions of S. 496 -- permanent
extension of the conservation easement incentive -- and
provisions from several other environmental bills including Senator
Capo's bill providing tax credits for landowners who improve endangered
species habitat on their land (S. 700), and an extension of the
favorable tax treatment for remediation of "brownfields" (polluted
sites suitable for reclamation for development). Westerners should
note that the bill also includes a provision that will allow stock
in ditch companies to be used in Section 1031 exchanges.
What's next in the Senate? We aren't sure -- but
having passed this milestone, these provisions might be brought
to the Senate floor on their own, or as part of any available House-passed
tax bill -- and several are now moving, including the federal aviation
system financing bill and the Farm Bill.
More good news! We now have 106 cosponsors
for the House bill, HR 1576. Wisconsin Representatives
who have signed on to the conservation easement tax incentives bill
include:
Ron Kind (District 3)
Paul Ryan (District 1)
Wisconsin Representatives who have not yet signed
onto the bill include:
Tammy Baldwin (District 2)
Gwendolynnne Moore (District 4)
F. Sames Sensenbrenner, Jr. (District 5)
Tom Petri (District 6)
David Obey (District 7)
Steven Kagen (District 8)
If your Congressperson is not signed on please
ask them to cosponsor H.R. 1576! For details on what to say
to your Congressperson please visit the
Land Trust Alliance's tax incentives website. Contact information
for your Representatives is available
on Gathering Waters' website.
See
Gathering Waters' letters to Wisconsin's Federal Delegation »
If you are in Representative Kind or Ryan's districts,
please thank them for co-sponsoring this important bill by faxing
a letter to their Washington, DC office and following up with a
phone call.
For detailed information and a template letter please go here.
Click
here for a copy of Gathering Waters' letter to Rep. Kind and Ryan
»
To
learn more about this issue, visit the Land Trust Alliance's policy
website.
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