Bill
Bill > HR4459
summary
Introduced
11/28/2017
11/28/2017
In Committee
11/28/2017
11/28/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Charitable Conservation Easement Program Integrity Act of 2017 This bill amends the Internal Revenue Code to limit the aggregate amount of a partner's annual tax deductions for qualified conservation contributions of a partnership to 2.5 times the partner's adjusted basis in the partnership. (Under current law, a "qualified conservation contribution" is the contribution of a qualified real property interest to a qualified organization exclusively for conservation purposes.) The limitation applies for the first five years after the individual becomes a partner in the partnership. It does not apply to certain family partnerships.
AI Summary
This bill, the Charitable Conservation Easement Program Integrity Act of 2017, amends the Internal Revenue Code to limit the aggregate annual tax deduction a partner can claim for qualified conservation contributions made by a partnership. Specifically, the bill limits the partner's deduction to 2.5 times their adjusted basis in the partnership, but only for the first five years they are a partner. This limitation does not apply to certain family partnerships. The bill is intended to prevent abuse of the tax deduction for qualified conservation contributions made through partnerships.
Committee Categories
Budget and Finance
Sponsors (17)
Mike Thompson (D)*,
Earl Blumenauer (D),
Elizabeth Esty (D),
John Faso (R),
Brian Fitzpatrick (R),
John Garamendi (D),
Greg Gianforte (R),
Gene Green (D),
Sheila Jackson-Lee (D),
Dave Joyce (R),
Mike Kelly (R),
John Larson (D),
Chellie Pingree (D),
Ted Poe (R),
Tim Ryan (D),
Peter Visclosky (D),
Peter Welch (D),
Last Action
Referred to the House Committee on Ways and Means. (on 11/28/2017)
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/115th-congress/house-bill/4459/all-info |
| BillText | https://www.congress.gov/115/bills/hr4459/BILLS-115hr4459ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr4459/BILLS-115hr4459ih.pdf.pdf |
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