S 5019
116th Congress
Senate
Taxation
Charitable contributions
Income tax deductions
Land use and conservation
Wildlife conservation and habitat protection
Charitable Conservation Easement Program Integrity Act of 2020
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 15, 2020
Read twice and referred to the Committee on Finance.
Dec 15, 2020
Introduced in Senate
Plain-English summary
Charitable Conservation Easement Program Integrity Act of 2020
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1