Charitable Conservation Easement Program Integrity Act of 2021

Bill 117 HR 4164, also known as the Charitable Conservation Easement Program Integrity Act of 2021, aims to address issues related to the abuse of conservation easement tax deductions. Conservation easements are legal agreements that restrict development on a piece of land in order to protect its natural, scenic, or historic resources.

The bill seeks to improve the oversight and enforcement of conservation easement tax deductions by requiring appraisers to meet certain qualifications and standards when valuing easements. It also includes provisions to increase penalties for taxpayers who participate in abusive conservation easement transactions.

Additionally, the bill aims to enhance transparency by requiring the IRS to report annually on the use of conservation easement tax deductions and the enforcement actions taken against abusive transactions. It also includes provisions to improve the administration of the conservation easement program and ensure that it is being used for its intended purpose of preserving important natural resources. Overall, the Charitable Conservation Easement Program Integrity Act of 2021 seeks to strengthen the integrity of the conservation easement program and prevent abuse of tax deductions, ultimately ensuring that valuable natural resources are protected for future generations.