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ASA, Other Organizations Urge Passage of the Charitable Conservation Easement Program Integrity Act

Sep 16, 2021

ASA, joined by twelve other organizations, sent a letter to leaders in Congress applauding the inclusion of the bipartisan Charitable Conservation Easement Program Integrity Act (H.R. 4164 and S. 2256) in the upcoming reconciliation package.

Despite 2016 IRS warnings to abusers about potential repercussions due to involvement in these tax shelters, promoters of these deals remain undeterred. The bipartisan 2020 Senate Finance Committee report concluded that between 2010-2018, individuals misusing the tax deduction claimed $36 billion in tax deductions.

Promoters of syndicated conservation easements sell interests in lands to individuals, who then receive conversation easement tax deductions well above the purchase price of their interest. Congress can restore the integrity and intent of this program that serves to protect acres of irreplaceable lands by eliminating the financial benefits of participating in a syndicated transaction.

ASA supports the inclusion of the act into the reconciliation passage and urges Congress to finally halt the egregious and ongoing abuse bad actors of this program have caused. To read House Resolution 4164, click here. To read Senate Bill 2256, click here. To read the letter sent by ASA, along with twelve other organizations, click here.