On April 27th, ASA joined twelve other organizations in urging the U.S. Senate Committee on Finance to hold a hearing on abusive syndicated conservation easement transactions. 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 stop further abuse and restore the integrity and intent of the conservation easement program by passing the Charitable Conservation Easement Program Integrity Act. The bill would protect acres of irreplaceable lands by eliminating the financial benefits of participating in a syndicated transaction.
To read the letter, April 2022 Conservation Appraisal Historic Preservation Community Sign On Letter.