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developed by Virginia and Maryland and officially endorsed by Governors Robb and Hughes, Virginia’s U.S. Senator Harry F. Byrd, Jr., proposed an amendment to the recently approved federal tax bill that would have assured favorable tax treatment for any easement accepted or endorsed by an agency at any level of government. The amendment gained strong support from the Secretary of the Interior and a bipartisan group in both houses of Congress. Ultimately, because of procedural questions, the conferees decided not to add Senator Byrd’s amendment to the tax bill.
The effort did bring a promise from the House Ways and Means Committee Chairman, however, that arrangements will be made to assure the tax deductibility of easements donated in support of public open space programs. According to PEC, the assurances may come in the form of legislation to be considered later this year.
In related action, the environmental organization reported that the Internal Revenue Service has recently issued advance rulings on two proposed easement donations, one in an urban area of Virginia and the second in rural Montana. The language of the ruling) , —both favorable — suggest;
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