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Volume 1
- Budget Message
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- Local Aid to Cities and Towns
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Volume 2
- Budget Development
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- Operating Transfers
- Local Aid - Section 3
- Outside Sections
- Tax Expenditure Budget
- Appendix A
- Glossary
2.619 -Conservation Land Credit(NEW)
| Item | Description | FY2011 | FY2012 | FY2013 |
|---|---|---|---|---|
| 2.619 | Conservation Land Credit(NEW)
Tax credit is allowed for qualified donations of certified land to a public or private conservation agency. The credit is equal to 50% of the fair market value of the qualified donation. The amount of the credit that may be claimed by a taxpayer for each qualified donation cannot exceed $50,000. The credit is refundable but not transferable. The credit is available to both chapter 62 and chapter 63 taxpayers. The credit is applicable to insurance companies as well. Origin: M.G.L. c. 63, S. 38AA Estimate: $0.5 |
0 | 0.5 | 0.5 |
Key:
| ORIGIN | |
| IRC | Federal Internal Revenue Code (26 U.S.C.) |
|---|---|
| M.G.L. | Massachusetts General Laws |
| U.S.C | United States Code |
| ESTIMATES | All estimates are in $ millions. |
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