Protect Our Land

Why?
More than 40 acres of land are permanently lost to development every day in Massachusetts. These vulnerable natural areas support a thriving tourism industry, provide habitat for wildlife, safeguard fragile water supplies, and most importantly, preserve quality of life in our communities. It is time to give landowners incentives to tip the balance in favor of preserving our land.

How?
To protect these invaluable resources, we support an income tax credit for landowners who donate land for conservation. This tax incentive has proven highly effective in 13 other states, and now the Commonwealth has a chance to develop such a tool. Under the Land Conservation Incentives Act:

Landowners receive income tax credit for permanent gift of land for conservation
State income tax credit is valued at 50% of the appraised fair market value of the land; credit is limited to $50,000
Credit may be carried forward for 10 consecutive years
State must certify eligible lands as ecologically valuable and in the public interest
Gifts may include a fee interest or less than fee interest in the land
Gifts of land must be permanent
Credit cannot exceed the donor's annual state income tax liability
Can include working lands such as forestry and farms

Advantages
This approach offers the extra push needed to convince land owners who cannot afford to conserve this land. Out of pocket expenses required to make land donations (such as attorney fees and appraisal costs) are particularly difficult for those who are cash poor but land rich. In addition, this system shifts the power back into the hands of the land owners and away from the developers. Please join us in expanding incentives to include the conservation of private lands and protect them from being lost forever to poorly planned development.

Status

In early 2008 the Revenue Committee released the bill to House Ways and Means where it sits right now.

Contact
Steve Long, The Nature Conservancy, 617.227.7017 ext. 313