HR 5056
109th Congress
House
Taxation
Agricultural conservation
Agriculture and Food
Capital gains tax
Charitable contributions
Commerce
Corporation taxes
Environmental Protection
Farmers
Income tax
Nature conservation
Public Lands and Natural Resources
Real property
Tax deductions
To amend the Internal Revenue Code of 1986 to encourage charitable contributions of real property for conservation purposes.
Introduced: March 30, 2006
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 30, 2006
Referred to the House Committee on Ways and Means.
Mar 30, 2006
Introduced in House
Plain-English 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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1