251 Representatives support making the conservation easement incentive permanent
Congressmen Mike Thompson (D-CA) and Jim Gerlach (R-PA) today introduced the Conservation Easement Incentive Act, landmark legislation that would provide family farmers, ranchers, and other moderate-income landowners with a permanent incentive to donate development rights to their land. By providing tax benefits to landowners who choose conservation, the bill would help preserve our nation's cherished farm lands and open spaces for future generations. The bill has received broad bipartisan support in the House of Representatives, with 251 original co-sponsors.
Under Congressmen Thompson and Gerlach's bill, landowners who donate a conservation easement would maintain ownership and management of the land, but forgo their rights to develop the land in the future. The Conservation Easement Incentive Act would make permanent a tax incentive for donating development rights that will otherwise expire at the end of 2011. Eliminating this ever-changing deadline will give more farmers, ranchers, and forest owners the assurance they need to choose land conservation over development.
"Tax incentives can be a powerful tool to help green our economy and protect our natural resources," said Rep. Thompson. "Conservation easements have been particularly effective, encouraging landowners to conserve millions of acres of farm lands and scenic open spaces. By making this important conservation tool permanent, my bill would help preserve even more land for future generations."
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Source: http://mikethompson.house.gov/News/DocumentSingle.aspx?DocumentID=243291
