Today, Congress passed a year-end deal on spending and taxes that will make permanent the enhanced incentive for donations of conservation easements! The legislation also includes a brief but welcome reauthorization of the Land and Water Conservation Fund. The bill is now headed to the president’s desk and the White House has indicated that President Obama is likely to sign the agreement into law over the weekend.
Conservation Easement Tax Incentive
Making the enhanced tax incentive permanent has been a top priority for the land trust community nationally, and this vote in Congress is a major victory for conservation. Across the country, land trusts have been building strong bipartisan support for this powerful and cost-effective incentive by contacting their members of Congress, writing Letters to the Editor, organizing tours of protected properties, and mobilizing their supporters.
The enhanced tax incentive has been highly successful at encouraging private, voluntary land conservation in Wisconsin and across the U.S., accelerating the pace of conservation across the country by nearly 33% and exceeding one million acres per year. First established in 2006, the enhanced incentive expired at the end of 2014. With a permanent tax incentive, landowners will have predictability as they make important planning decisions about the future protection of their land.
Land and Water Conservation Fund
The Land and Water Conservation Fund (LWCF), which is celebrating its 50th year in 2015, is one of the best tools available for creating parks and public lands across America. This fund takes a portion of revenues from offshore oil drilling and uses that money to pay for local, state, and national parks, as well as other public lands such as forests, shorelines, historic sites, and wildlife refuges. In Wisconsin, LWCF has been critical for helping to protect special places ranging from the Ice Age Trail to large working forest conservation easements to local community parks.
The legacy of the Land and Water Conservation Fund is outstanding — expanding Americans’ access to spectacular natural landmarks as well as parks and trails near home. Since 1965, this fund has helped to protect over 3 million acres of land in every state and territory. Every year, over 500 million people visit these places, dramatically boosting local economies.
