PARTNERSHIP FOR CONSERVATION
Empowering more conservation for all Americans
What We Stand For
Our Position on IRS Notice 2017-10
The IRS issued Notice 2017-10 on December 23, 2016, designating certain donations of conservation easements by partnerships as a “listed transaction.” P4C has five primary overarching concerns with the Notice, as well as potential solutions.
Section 170(h) of the Internal Revenue Code has helped preserve millions of acres of land for almost 40 years. With an enhanced conservation easement incentive in 2015, the tax incentive is working as intended – and P4C supports common-sense improvements to continue to empower private conservation for more Americans.
Best Practices for Private Land Conservation
P4C recommends several best practices our members follow when using private funding to advance conservation efforts in the United States. We encourage any qualified recipients to accept conservation donation easement donations that adhere to these guidelines.
Having owned and enjoyed the property for several years, the partnership thought it made sense to consider permanently preserving this beautiful ranch from development rather than selling it. After being introduced to the concept of conservation easement donations, the partners determined they could permanently preserve an unspoiled part of the property’s ecology and receive a financial benefit for doing so in the form of a tax deduction.
Along the banks of Kinchafoonee Creek just outside of Plains, Georgia, two farmers, Michael and David Weldon, owned an 870-acre tract of land that the family considered too important to be developed. Due to financial considerations, the Weldon family needed assistance to be able to permanently preserve the land’s natural beauty and retain the ability to grow peanuts, corn and soybeans on the property.
The Harrison family owned a 220-acre tract of land that had been in their family for three generations, dating back to 1882. The land borders Lake Guntersville in northeast Alabama and had been partially farmed for cattle, horses and timber. The fourth generation was due to inherit the land, but recent economic challenges had the family worried whether keeping the land was a financially viable option.
The U.S. population is projected to grow by 100 million and the amount of land covered with housing, roads and shopping malls will nearly triple by 2050.
Source: Land Trust Alliance
We lose 6,000 acres of wildlife habitat every day. That’s 2.2 million acres — an area the size of Yellowstone National Park — every year.
Source: Dept. of Forestry at the US Department of Agriculture