Bill > S0090

This bill amends the state's income tax credit for conservation or qualified conservation contributions of real property. The key provisions are: 1. The credit is increased from 25% of the charitable deduction to 25% of the total value of the gift. 2. The maximum annual credit per taxpayer is increased from $52,500 to $150,000, and this maximum will be adjusted for inflation annually. 3. The credit is allowed for certain forestry and silviculture practices that conform to best management practices, as long as the overall conservation contribution still meets the federal requirements. 4. The per-acre cap on the credit remains at $250 per acre, with certain wetland acreage also counted towards this cap. The bill applies to qualified conservation contributions made after 2018 and takes effect upon the Governor's approval.