Resource Library

Featured-image-7Tax Credit Guidance and Legislation

House Bill 1197 (April 2010) On April 29, 2010, Governor Ritter signed House Bill 1197 into law. This measure imposes a statewide cap on total tax credits that can be claimed for the years 2011, 2012, and 2013. The Colorado Division of Real Estate is charged with the responsibility of administering the cap and promulgating the rules and regulations to do so. HB 1197 also clarifies how county assessors determine the assessed value of properties encumbered by a conservation easement.

Colorado Department of Revenue’s FYI 39 (March 2009) Guidance from the Colorado Department of Revenue regarding the Colorado Gross Conservation Easement Credit. Please check back periodically as the Colorado Department of Revenue frequently updates their FYIs with new information.

Conservation Tax Credits: A Landowner’s Guide (2009) Conservation Resource Center’s comprehensive handbook designed to provide landowners, land trusts and government open space agencies with an overview of the Colorado conservation tax credits. Included in this handbook is information on earning the tax credit as well as transferring the tax credit.

Conservation Resource Center’s 2009 Fact Sheet Our one page fact sheet provides a brief overview of the Conservation Resource Center’s Tax Credit Exchange Program.

2008 Model Conservation Credit Act (June 2008) A companion publication to the Conservation Resource Center’s 2007 report: State Conservation Tax Credits: Impacts and Analysis. The principal purpose of drafting a Model Conservation Credit Act is to serve as guideline legislation for states considering enacting a conservation tax credit program.

State ConservationTax Credits: Impact and Analysis (2007) A nationwide assessment of the effectivelness of state income tax credits in advancing land conservation. This report also serves to guide states through issues related to the development of a tax credit program.

House Bill 08-1353 (June 2008) In June 2008, Governor Ritter signed into law a measure to increase oversight and accountability of Colorado’s conservation easement tax program, while maintaining the tax incentives, which have helped preserve more than a total of 1.2 million acres or working farms and ranches, river corridors, wild life habitat and scenic open lands accross Colorado.

Colorado Coalition of Land Trust’s Summary of House Bill 1361 (May 2007) In May 2007, Governor Ritter signed into law a measure to increase the accountability and transparency of the Colorado conservation easement tax credit program. The Colorado Coaltion of Land Trusts issued this summary of the measure. For more information, please visit CCLT’s website.

IRS Chief Counsel Memorandum (July 2002) IRS Chief Counsel Memorandum regarding the May 2001 Technical Assistance Memorandum (TAM) and associated tax issues related to the Colorado Conservation Easement Credit.

IRS Technical Assistance Memorandum (May 2001) IRS Technical Assistance Memorandum regarding the Colorado Conservation Easement Credit and associatied tax issues.

Conservation Easement Guidance and Legislation

IRS Notice 2007-50-Guidance Regarding Deductions by Individuals fo Qualified Conservation Contributions (June 2007) IRS guidance on the new tax incentive for conservation contributions enacted last year as part of the Pension Protection Act.

Land Trust Alliance Summary of IRS Notice 2007-50 (June 2007)

Forms

Conservation Resource Center’s 2012 Seller Registration Form

Conservation Resource Center’s Buyer Statement of Intent

Colorado Form DR 1305 Colorado Gross Conservtion Easement Credit Schedule

Colorado Form DR 1303 – Colorado Gross Conservation Easement Donor Schedule

Colorado Form DR 1304- Colorado Gross Conservation Easement Public Information Schedule

IRS Form 8283 & Instructions to IRS Form 8283 Noncash Charitable Contributions

Links

Colorado Coalition of Land Trusts

Colorado Department of Revenue

Colorado Division of Real Estate – Conservation Easement Section

Land Trust Alliance

Internal Revenue Service

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