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CT SB00070

Bill

Official Source

Status

Introduced

2/9/2010

Primary Sponsor

Michael McLachlan

Click for details

Origin

Senate

2010 General Assembly

AI Summary

  • Establishes an income tax deduction for taxpayers who voluntarily protect land from development through creation of a conservation easement
  • Allows deduction up to 50% of adjusted gross income for general taxpayers
  • Allows deduction up to 100% of adjusted gross income for qualifying farmers (those deriving more than 50% of income from farming)
  • Permits carryforward of unused deductions for up to 15 years when easement value exceeds maximum annual deduction
  • Amends chapter 229 of the general statutes to implement the deduction

Legislative Description

An Act Establishing An Income Tax Deduction Upon Creation Of A Conservation Easement.

Last Action

Referred to Joint Committee on Environment

2/9/2010

Committee Referrals

Environment2/9/2010

Full Bill Text

No bill text available