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SSB 1253 Another nasty nugget, Charitable Conservation Contribution Tax Credit

Fishbonker

Life Member
Division 7 of this bill does away with the charitable conservation contribution tax credit.

Copy and paste from the explanation section of the bill:

DIVISION VII —— CHARITABLE CONSERVATION CONTRIBUTION TAX CREDIT. Division VII of the bill repeals the charitable conservation contribution tax credit available against the individual and corporate income taxes. Currently, individual and corporate income taxes are reduced by an amount equal to 50 percent of the fair market value of real property located in this state that is conveyed unconditionally in perpetuity by the taxpayer for conservation purposes. Division VII of the bill applies to such conveyances occurring on or after July 1, 2021.

This would pretty much take away any incentive for landowners to give land to any any conservation group and I'm guessing that would include county conservation boards and the DNR.

One more attempt to get more land into production and out of conservation.

Link to the bill: SSB 1253

Links to the subcommittee:

Senator Dan Dawson email: SENATOR DAWSON EMAIL

Senator Joe Bolkcom email: SENATOR BOLKCOM EMAIL

Senator Tim Goodwin email: SENATOR GOODWIN EMAIL
 

Y2KZ28

New Member
Sounds like a real estate /developer bill !! In a state where 99% is private property a little more public areas won’t hurt .
 
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