summary
Introduced
06/24/2021
06/24/2021
In Committee
06/24/2021
06/24/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to limit the charitable deduction for certain qualified conservation contributions.
AI Summary
This bill, the Charitable Conservation Easement Program Integrity Act of 2021, aims to limit the charitable deduction for certain qualified conservation contributions made by pass-through entities, such as partnerships. Specifically, it establishes a limitation on the deduction amount to 2.5 times the sum of each partner's relevant basis in the partnership. The bill also applies accuracy-related penalties and extends the statute of limitations for assessment and collection in certain cases related to these contributions. The provisions generally apply to contributions made after December 23, 2016, with an exception for contributions related to the preservation of certified historic structures made in taxable years beginning after December 31, 2018.
Committee Categories
Budget and Finance
Sponsors (16)
Steve Daines (R)*,
Michael Bennet (D),
Susan Collins (R),
Chuck Grassley (R),
Maggie Hassan (D),
Martin Heinrich (D),
John Hickenlooper (D),
Tim Kaine (D),
Jeff Merkley (D),
Chris Murphy (D),
Jack Reed (D),
Jeanne Shaheen (D),
Debbie Stabenow (D),
Jon Tester (D),
Chris Van Hollen (D),
Ron Wyden (D),
Last Action
Read twice and referred to the Committee on Finance. (on 06/24/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/2256/all-info |
| BillText | https://www.congress.gov/117/bills/s2256/BILLS-117s2256is.pdf |
| Bill | https://www.congress.gov/117/bills/s2256/BILLS-117s2256is.pdf.pdf |
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