Bill > S2083

This bill increases the conservation land tax credit in Massachusetts by expanding the types of organizations eligible for the credit and gradually raising the maximum credit amount. Currently, the tax credit is available to certain entities, and this bill adds private nonprofit trusts that are organized for land conservation, authorized to do business in Massachusetts, and have tax-exempt 501(c)(3) status. The bill incrementally increases the maximum tax credit from $2 million to $3 million in 2025, to $4 million in 2026, and to $5 million in 2027, with these changes applying to both individual income tax (Chapter 62) and corporate tax (Chapter 63) provisions. These modifications to the tax credit are designed to encourage land conservation efforts by providing more substantial financial incentives to qualifying nonprofit organizations. The new provisions will remain in effect until December 31, 2035, after which they will expire unless renewed by further legislative action.

Budget and Finance

https://malegislature.gov/Bills/194/S2083