summary
Introduced
02/02/2015
02/02/2015
In Committee
02/02/2015
02/02/2015
Crossed Over
Passed
Dead
01/03/2017
01/03/2017
Introduced Session
114th Congress
Bill Summary
Conservation Easement Incentive Act of 2015 Amends the Internal Revenue Code to: (1) make permanent the tax deduction for charitable contributions by individuals and corporations of real property interests for conservation purposes, and (2) allow Native Corporations an increased tax deduction for donations of conservation easements related to lands conveyed under the Alaska Native Claims Settlement Act.
AI Summary
This bill, the Conservation Easement Incentive Act of 2015, aims to encourage the preservation of land by making a tax deduction for charitable contributions of real property interests for conservation purposes permanent for both individuals and corporations. It also provides a specific benefit for Native Corporations, allowing them an increased tax deduction for donating conservation easements, which are legal agreements that restrict the use of land to protect its natural or scenic qualities, on lands that were originally conveyed to them under the Alaska Native Claims Settlement Act. This means that the tax break for donating land for conservation will no longer expire, and Native Corporations will receive a more favorable tax treatment for these specific types of donations.
Committee Categories
Budget and Finance
Sponsors (52)
Dean Heller (R)*,
Kelly Ayotte (R),
Tammy Baldwin (D),
Michael Bennet (D),
Richard Blumenthal (D),
Roy Blunt (R),
Cory Booker (D),
John Boozman (R),
Barbara Boxer (D),
Richard Burr (R),
Maria Cantwell (D),
Shelley Moore Capito (R),
Ben Cardin (D),
Bob Casey (D),
Bill Cassidy (R),
Thad Cochran (R),
Susan Collins (R),
Chris Coons (D),
Tom Cotton (R),
Mike Crapo (R),
Steve Daines (R),
Joe Donnelly (D),
Al Franken (D),
Cory Gardner (R),
Lindsey Graham (R),
Martin Heinrich (D),
Johnny Isakson (R),
Angus King (I),
Mark Kirk (R),
Amy Klobuchar (D),
Patrick Leahy (D),
Bob Menendez (D),
Lisa Murkowski (R),
Chris Murphy (D),
Patty Murray (D),
Bill Nelson (D),
Gary Peters (D),
Rob Portman (R),
Jack Reed (D),
Jim Risch (R),
Pat Roberts (R),
Bernie Sanders (I),
Chuck Schumer (D),
Jeanne Shaheen (D),
Debbie Stabenow (D),
Dan Sullivan (R),
Jon Tester (D),
John Thune (R),
Tom Udall (D),
David Vitter (R),
Sheldon Whitehouse (D),
Roger Wicker (R),
Last Action
Read twice and referred to the Committee on Finance. (on 02/02/2015)
Official Document
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