EARN Act Amendment Approved to Adopt the Charitable Conservation Easement Program Integrity Act

June 22, 2022

On June 22nd, the Senate Finance Committee voted in favor of an amendment to the Enhancing American Retirement Now (EARN) Act to adopt a prospective version of the Charitable Conservation Easement Program Integrity Act. By way of a 23-5 vote, the decision to adopt the Charitable Conservation Easement Program Integrity Act was supported to offset the cost to accelerate the effective date of the exclusion for disability-related retirement payments to first responders.

The Charitable Conservation Easement Program Integrity Act seeks to safeguard taxpayer money by preventing abusive syndicated charitable conservation easement tax exemption deals. By disallowing syndicated transactions, not only will taxpayers avoid harm, but the true purpose of the tax exemption is better fulfilled by preserving irreplaceable land.

ASA supports the passage of the Act so that the thousands of legitimate conservation easement transactions may continue, and appraisers can continue to provide their services as part of claiming the deduction.

To read the amendment, click here.