Copyright 2007   LandChoices -   All Rights Reserved	WILL FEDERAL LAWMAKERS CONTINUE WITH TAX INCENTIVES FOR LAND CONSERVATION? From Michigan Magazine, Autumn, 2007 By Kirt Manecke (in partnership with the Land Trust Alliance) Generous landowners who donate voluntary conservation agreements, also known as conservation easements, to their local land conservancy or land trust to permanently preserve their land are inspired by many things: they love the region where their property is located, they feel connected to their land, and they wish to leave a legacy for future generations. This inspiration is at the heart of LandChoices' work to help permanently protect valuable natural resources and balance conservation with development. LandChoices is a Michigan based non-profit land conservation organization. But for almost all donors, donating a conservation easement is a major financial decision, and the federal income tax deduction that comes with a donation helps make conservation easements possible for landowners in our community. Congress passed a new law that enhances the tax benefits of protecting private land for many landowners. The legislation improves the tax incentive for conservation easements by allowing conservation easement donors in 2006 and 2007 to: -Deduct up to 50% of their adjusted gross income in any year (up from 30%); -Deduct up to 100% of their adjusted gross income if the majority of that income came from farming, ranching or forestry; and -Continue to take deductions for as long as 15 years (up from 5 years) after the initial deduction. The new law is scheduled to expire at the end of 2007 unless it is extended. "This updated law has made it easier for landowners in communities across Michigan and America to build on their love of the land and permanently protect the unique lands that make our country special. We hope the law is extended to help even more landowners," says Manecke. A conservation easement is a voluntary legal agreement between a landowner and a land trust or government agency that permanently limits uses of the land in order to protect its conservation values. The landowner continues to own the land and the easement does "run with the land" and is binding to future landowners, but the land can be posted against trespassing, and sold or given to heirs just as any other private property. Lands protected with a conservation easement do not require landowners to allow public access on their property. LandChoices is working to reach landowners and provide them with choices that preserve land. To learn how to preserve your land visit www.landchoices.org and click on the "Conserve Your Land" link. To see what you can do to help make the new tax incentives permanent visit the Land Trust Alliance website at www.lta.org .
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