SB24-126 Summary: Conservation Easement Income Tax Credit

• Extends the Conservation Easement Oversight Commission and Certified Holder Program indefinitely by repealing sunset dates previously set for July 1, 2026

• Increases commission from eight to nine members by adding one voting member representing socially disadvantaged farmers or ranchers

• Raises annual tax credit limits from $45 million (2014-2024) to $50 million for calendar years 2025-2031, and increases per-donation credit cap from $5 million to $8 million for donations on or after January 1, 2027

• Allows multiple tax credit certificates to be issued for a single conservation easement donation to enable credit transfers between parties

• Authorizes conservation easements granted after January 1, 2025 to include provisions permitting wind and solar energy generation, transmission, or storage if compatible with conservation values