Farm Bill with land conservation incentives passes
The 2008 Farm Bill is enacted and includes tax incentives for land conservation.
On Friday May 23rd, the U.S. Senate voted to overturn the President's veto of the Farm Bill reinstating a tax incentive designed to encourage land conservation.
The bill puts back in place the incentive for donated conservation easements that originally expired on January 1, 2008. The incentive includes raising the deduction for donated conservation easements form 30 to 50% of adjusted gross income—and 100% for farmers and ranchers—and extending the time period for using the deduction from 6 to 16 years.
The Farm Bill also included funding for important land conservation programs like the Farmland Protection Program and the Grassland Reserve Program. Learn more at the Land Trust Alliance's public policy page.