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BILL PROPOSES TO MAKE PERMANENT CONSERVATION EASEMENT TAX INCENTIVES

Thursday, March 14, 2013 - 2:15AM

Sens. Max Baucus, D-Mont., and Orrin Hatch, R-Utah, announced legislation that would make permanent the enhanced tax incentives for conservation easements that are scheduled to expire at the end of 2013. The Rural Heritage Conservation Extension Act of 2013 would allow all taxpayers to deduct up to 50 percent of adjusted gross income (AGI) for qualified donations of conservation easements. Farmers and ranchers would be allowed to deduct up to 100 percent of AGI. If passed, the bill would allow unused deductions to be carried forward up to 15 years.

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