H.R. 4459 · 115th Congress
Charitable Conservation Easement Program Integrity Act of 2017
- Stage
- In committee
- Sponsor
- Mike Thompson
- Introduced
- 2017-11-28
- Latest action
- 2017-11-28 · Introduced in House
Summary
Charitable Conservation Easement Program Integrity Act of 2017
This bill amends the Internal Revenue Code to limit the aggregate amount of a partner's annual tax deductions for qualified conservation contributions of a partnership to 2.5 times the partner's adjusted basis in the partnership. (Under current law, a "qualified conservation contribution" is the contribution of a qualified real property interest to a qualified organization exclusively for conservation purposes.)
The limitation applies for the first five years after the individual becomes a partner in the partnership. It does not apply to certain family partnerships.