A bill to amend the Internal Revenue Code of 1986 to limit the amount of certain qualified conservation contributions.
Charitable Conservation Easement Program Integrity Act of 2019
This bill limits 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 three taxable years after the individual becomes a partner in the partnership. It does not apply to certain family partnerships.
Read twice and referred to the Committee on Finance.
Referred to the House Committee on Ways and Means.
Read twice and referred to the Committee on Finance.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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