Bill Sponsor
Senate Bill 4751
116th Congress(2019-2020)
Charitable Conservation Easement Program Integrity Act of 2020
Introduced
Introduced
Introduced in Senate on Sep 29, 2020
Overview
Text
Introduced
Sep 29, 2020
Latest Action
Sep 29, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4751
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Charitable Conservation Easement Program Integrity Act of 2020

This bill limits the aggregate amount of a partner's annual tax deductions for qualified conservation contributions of a partnership to 2.5 times the partner's adjusted basis in the partnership. (Under current law, a qualified conservation contribution is the contribution of a qualified real property interest to a qualified organization exclusively for conservation purposes.)

The limitation applies for the first three taxable years after the individual becomes a partner in the partnership. It does not apply to certain family partnerships.

Text (1)
September 29, 2020
Actions (2)
09/29/2020
Read twice and referred to the Committee on Finance.
09/29/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:44:40 PM