ID H0084

Expands the definition of "real property" under Idaho's capital gains deduction to include qualified conservation easements, grazing permits or leases from federal and state agencies, and section 1250 property conveyed in perpetuity.

Qualified conservation easements must be conveyed to qualified organizations as defined in Internal Revenue Code section 170(h).

Grazing permits or leases from the U.S. Forest Service, Bureau of Land Management, or Idaho Department of Lands qualify only when transferred simultaneously with the transfer of the base property.

Section 1250 property qualifies only when conveyed in perpetuity and when the transfer would be required to be in writing under Idaho Code section 9-503.

Act takes effect upon passage and approval with retroactive application to all taxable years beginning on or after January 1, 2010.