MA S2083

Increases the annual cap on the conservation land tax credit from $2,000,000 to $5,000,000 through a phased schedule: $3,000,000 starting January 1, 2025; $4,000,000 starting January 1, 2026; $5,000,000 starting January 1, 2027

Expands eligibility for the tax credit to include private nonprofit trusts organized for land conservation purposes under Chapter 203 that have 501(c)(3) tax-exempt status

Applies to both individual income tax credits (Chapter 62) and corporate/business tax credits (Chapter 63)

Includes a sunset provision expiring the increased credit caps on December 31, 2035

Filed by Senator Bruce E. Tarr with bipartisan co-sponsors from Essex, Middlesex, Worcester, Hampshire, and Franklin districts