Bill > S5019

This bill, the Charitable Conservation Easement Program Integrity Act of 2020, aims to limit the charitable deduction for certain qualified conservation contributions made by pass-through entities, such as partnerships. Specifically, it establishes a cap on the amount of the deduction that partners can claim based on the adjusted basis of their partnership interest. There are exceptions to this cap for contributions made at least 3 years after the partnership or partner acquired the property interest, and for contributions made by family partnerships. The bill applies to contributions made in taxable years ending after December 23, 2016, except for contributions related to the preservation of certified historic structures, which are subject to the new rules starting in taxable years beginning after December 31, 2018.