Charitable Conservation Easement Program Integrity Act Amendment Included in EARN Act

September 14, 2022

On September 8th, Senators Ron Wyden (D-OR) and Mike Crapo (R-ID) introduced the bipartisan Enhancing American Retirement Now (EARN) Act aimed at improving the retirement system. Added to the bill via amendment was the Charitable Conservation Easement Program Integrity Act by way of a 23-5 vote.

The Charitable Conservation Easement Program Integrity Act seeks to safeguard taxpayer money by preventing abusive syndicated charitable conservation easement tax exemption deals. Despite the 2016 IRS warning 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 individuals misusing the tax deduction claimed $36 billion in tax deductions.

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 EARN Act, click here