H.R. 5056 · 109th Congress

To amend the Internal Revenue Code of 1986 to encourage charitable contributions of real property for conservation purposes.

Stage
In committee
Introduced
2006-03-30
Latest action
2006-03-30 · Introduced in House

Summary

Amends the Internal Revenue Code to allow: (1) taxpayers making charitable contributions of real property for conservation purposes (qualified conservation contributions) to deduct up to 50% (currently, 30%) of their income for such contributions (100% for certain farmers or ranchers); and (2) a 15-year carryover of excess tax deduction amounts for such contributions.