S 5019
Charitable Conservation Easement Program Integrity Act of 2020
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- Passed Senate
- Passed House
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- Became Law
Bill overview
This bill, the Charitable Conservation Easement Program Integrity Act of 2020, limits the amount of deductions taxpayers can take for qualified conservation contributions made by partnerships. Specifically, it restricts a partner’s deduction to 2.5 times their adjusted basis in the partnership, as long as the deduction doesn’t exceed the portion of that basis allocated to the conservation property. There are exceptions for contributions made after a three-year holding period and for family partnerships, and the rules also apply to S corporations and other pass-through entities. The bill was designed to address potential abuse of the conservation easement deduction.
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Primary sponsor
Cosponsors
Debbie Stabenow
Jon Tester
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