Better Easement Benefits

The signs in Congress are good for the Farm Bill, which includes an important provision about conservation easements.

The bill working its way through Congress would reinstate the expanded federal tax incentives for conservation easements, which expired at the end of 2007.

The expanded benefits will once again allow donors to deduct up to 50 percent of their adjusted gross income in the year in which the gift is given and carry the deduction forward, if necessary, for an additional 15 years.

The legislation for this is contained in the Farm Bill and if passed, this two-year extension will be retroactive to January 1.

President Bush intends to veto the Farm Bill for reasons that have nothing to do with these conservation provisions. But Congressional leaders say the bill will pass with a veto-proof majority.

by Tom Andersen