New Tax Incentives for Conservation
August 17, 2006

GOOD NEWS! President George W. Bush has signed federal legislation
(the Pension Protection Act of 2006) that significantly expands the tax incentive
for taxpayers to make donations of land and conservation easements to
conservation organizations.

Specifically, the new legislation:
* Raises the charitable deduction landowners can take for donating land or
conservation easements from 30% to 50% of their income in any year;

* Increases the deduction limit to 100% of income if the donor is a farmer or rancher; and

* Allows a donor of land or a conservation easement to carry forward the
charitable deduction for up to 15 years.

This represents a tremendous victory for land conservation, and we are certain that the
new incentives will result in increased land protection across the nation.
The legislation only applies to land and conservation easements donated in 2006 and 2007,
so NOW is the time to act.

Led by the Land Trust Alliance, the Open Space Institute and others in the land trust community
will push to ensure that these new conservation incentives only grow stronger and are ultimately
made permanent. In the meantime, we will work closely with conservation-minded landowners
over the next 16 months to capitalize on this great opportunity.

If you are a landowner, and would like to protect your land, we hope that you take advantage
of this opportunity and contact the Open Space Institute or Royalston's Open Space Committee today.

For more information on OSI's work, visit http://www.osiny.org/.
The Open Space Institute protects scenic, natural and historic landscapes to ensure public enjoyment,
conserve habitats and sustain community character. OSI achieves its goals through land acquisition,
conservation easements, special loan programs, and creative partnerships.
Open Space Institute 1350 Broadway Suite 201 New York, NY 10018
Email: webmaster@osiny.org Phone: (212) 290-8200

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