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Charitable Conservation Easement Program Integrity Act of 2021

12/31/2022, 5:26 AM

Congressional Summary of S 2256

Charitable Conservation Easement Program Integrity Act of 2021

This bill imposes a limitation on the tax deduction for qualified conservation contributions made by certain partnerships if the amount of the contribution exceeds 2.5% times the sum of each partner's relevant basis in the partnership. This limitation also applies to other pass-thru entities, such as S corporations.

Current Status of Bill S 2256

Bill S 2256 is currently in the status of Bill Introduced since June 24, 2021. Bill S 2256 was introduced during Congress 117 and was introduced to the Senate on June 24, 2021.  Bill S 2256's most recent activity was Read twice and referred to the Committee on Finance. as of June 24, 2021

Bipartisan Support of Bill S 2256

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
15
Democrat Cosponsors
13
Republican Cosponsors
2
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 2256

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 2256

A bill to amend the Internal Revenue Code of 1986 to limit the charitable deduction for certain qualified conservation contributions.
Charitable Conservation Easement Program Integrity Act of 2021
Charitable Conservation Easement Program Integrity Act of 2021

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