| Item | Description | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|---|---|---|---|---|---|
| 2.619 | Conservation Land Credit
A 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. Approval of the donation is required from the Secretary of the Office of Energy & Environment Affairs. The credits may not be sold or transferred to another taxpayer, but are refundable. The total credits that may be approved are capped at $2.0 million annually for the combined amount from personal income tax filers, chapter 63 taxpayers. Insurance companies, financial institutions, and public utilities, which do not belong to regular corporate tax types, are also allowed to apply for this credit. Origin: M.G.L. c. 63, S. 38AA Estimate: $0.0 |
0 | 0 | 0 | 0 | 0 |
| 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. |