A bill that would make permanent a tax deduction for landowners who donate land for conservation has received wide bipartisan support in the U.S. House of Representatives. H.R. 1831, the Conservation Easement Incentive Act, was initially sponsored by California Democrat Mike Thompson and Virginia Republican Eric Cantor.
They have managed to round up 232 co-sponsors from both the Democratic and Republican parties, including a majority of the Ways and Means Committee. Alabama Reps. Spencer Bachus, Jo Bonner, Artur Davis, Parker Griffith and Mike Rogers have signed on co-sponsor the legislation. Democrat Bobby Bright and Republican Robert Aderholt have not offered their support.
In 2006, Thompson supported legislation that temporarily increased the tax deduction available to landowners who agreed to turn their land into a conservation easement. H.R. 1831 would make that deduction permanent. Thompson says there’s been a 50 percent increase in donations since the increased deduction came into effect.
They have managed to round up 232 co-sponsors from both the Democratic and Republican parties, including a majority of the Ways and Means Committee. Alabama Reps. Spencer Bachus, Jo Bonner, Artur Davis, Parker Griffith and Mike Rogers have signed on co-sponsor the legislation. Democrat Bobby Bright and Republican Robert Aderholt have not offered their support.
In 2006, Thompson supported legislation that temporarily increased the tax deduction available to landowners who agreed to turn their land into a conservation easement. H.R. 1831 would make that deduction permanent. Thompson says there’s been a 50 percent increase in donations since the increased deduction came into effect.
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