About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

H.R. 2807, Conservation Easement Incentive Act of 2014 1 (June 5, 2014)

handle is hein.congrec/cbo1679 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE 0' LCOST ESTIMATE June 5, 2014 H.R. 2807 Conservation Easement Incentive Act of 2014 As ordered reported by the House Committee on Ways and Means on May 29, 2014 H.R. 2807 would amend the Internal Revenue Code to reinstate and make permanent specified rules that increased the amount of income tax deductions allowed for taxpayers making certain charitable contributions of real property for conservation purposes. The rules, which expired on December 31, 2013, increased certain income-based limits on the amount of such conservation contributions that an individual or qualified corporate farmer or rancher could deduct in a year, and extended the number of years over which such contributions above the limits could be carried forward and deducted. The staff of the Joint Committee on Taxation (JCT) estimates that enacting H.R. 2807 would reduce revenues, thus increasing federal budget deficits, by about $1.1 billion over the 2014-2024 period. The Statutory Pay-As-You-Go Act of 2010 establishes budget-reporting and enforcement procedures for legislation affecting direct spending and revenues. Enacting H.R. 2807 would result in revenue losses in each year beginning in 2014. The estimated increases in the deficit are shown in the following table. JCT has determined that the bill contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act. The CBO staff contact for this estimate is Logan Timmerhoff. The estimate was approved by David Weiner, Assistant Director for Tax Analysis.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most