President Bush signed into law the Pension Protection Act of 2006. This legislation contained provisions that provide tax assistance for land donated for conservation and protection of open space through Dec. 31, 2007. The provisions include:

  • Raising the maximum deduction a donor can take for donation of a conservation easement from 30% of their adjusted gross income in any year to 50% (provided that the contribution does not prevent use of the donated land for farming or ranching);
  • Allowing qualified farmers and ranchers to deduct up to 100% of their adjusted gross income; and
  • Increasing the number of years over which a donor can use conservation tax deductions from 6-16 years.
-- P. Scott Shearer, Washington, D.C.