A bill to amend the Internal Revenue Code of 1986 to provide a special valuation of sensitive environmental areas for estate tax purposes, and for other purposes.
Wetlands and Green Space Preservation Assistance Act of 1991 - Amends the Internal Revenue Code to provide for determining the environmental use value of sensitive environmental areas for estate tax purposes. Requires the estate to grant an environmental preservation easement for a period of ten years after the death of the decedent. Imposes an additional estate tax if an heir fails to maintain the easement.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Subcommittee on Energy and Agricultural Taxation. Hearings held. Hearings printed: S.Hrg. 102-831.
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