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Friday, May 23, 2008

Legislative Victory for Land Conservation

Legislative Victory for Land ConservationCongress Passes Conservation Tax Incentive for Family Farms and Ranches

Following similar action in the House, the Senate last night voted to overturn the President's veto of the Farm Bill. Despite an earlier procedural glitch, the final bill emerged as expected with our conservation tax incentive now enacted for two more years. After an arduous uphill battle and the prospect of defeat only a few weeks ago, our national coalition now has a hard-earned reason to celebrate. This puts back in place the incentive that had expired January 1st with the exact same terms, that is, raising the deduction for donated conservation easements form 30 to 50% of adjusted gross income—and 100% for farmers and ranchers—and extending the time period for using the deduction from 6 to 16 years.

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