TAX CREDIT FOR CONVEYANCE OF PROPERTY

Summary

The bill raises the state income‑tax credit for land donated forever to conservation or preservation groups, increasing the credit from 50 % of the land’s fair market value to 80 % for donations made after July 1 2026. It caps the credit at $100,000 for older donations, $250,000 for those after 2008, and $2 million for newer donations, makes any excess refundable, and allows the credit to be carried forward for up to 20 years or transferred once. The changes apply to individuals, partnerships, LLCs and corporations that own the land and meet certification and appraisal requirements.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share