3.0.0 2223 2022-02-03T05:11:00Z 2023-01-11T20:20:22Z Senate S S 2007-10-24 110 ssfi00 Finance Committee Senate Standing Reported original measure 2007-10-24T18:30:04Z S. Rept. 110-205 Endangered Species Recovery Act of 2007 110 1422 HR 2007-03-08 Referred to the House Committee on Ways and Means. Related bill CRS Endangered Species Recovery Act of 2007 110 700 S 2007-02-28 Read twice and referred to the Committee on Finance. Related bill CRS Heartland, Habitat, Harvest, and Horticulture Act of 2007 110 2242 S 2007-10-25 Placed on Senate Legislative Calendar under General Orders. Calendar No. 446. Related bill CRS 2007-10-24 Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 442. Calendars 2007-10-24 ssfi00 Finance Committee Senate Committee on Finance. Original measure reported to Senate by Senator Baucus. With written report No. 110-205. Committee 2007-10-24 Committee on Finance. Original measure reported to Senate by Senator Baucus. With written report No. 110-205. Committee 14000 9 Library of Congress ssfi00 Finance Committee 2007-10-24 Introduced in Senate IntroReferral 10000 9 Library of Congress B000243 Sen. Baucus, Max [D-MT] MAX BAUCUS D MT SIEBEN N 2007-10-22T04:00:00Z S. 2223, Habitat and Land Conservation Act of 2007 http://www.cbo.gov/publication/19251 <p>Cost estimate for the bill as ordered reported by the Senate Committee on Finance on September 21, 2007</p> 2007-10-22T04:00:00Z S. 2223, Habitat and Land Conservation Act of 2007 https://www.cbo.gov/publication/19251 Cost estimate for the bill as ordered reported by the Senate Committee on Finance on September 21, 2007 Taxation Agriculture and Food Animals Brownfields Capital gains tax Charitable contributions Commerce Congress Congressional investigations Congressional reporting requirements Conservation easements Corporation taxes Endangered species Environmental Protection Habitat conservation Hazardous wastes Income tax Infrastructure Irrigation Land use Leases Open space lands Public Lands and Natural Resources Reservoirs Restoration ecology Stocks Tax credits Tax deductions Tax exclusion Tax-exempt organizations Water Resources Development Wildlife conservation Taxation 00 2007-10-24 Introduced in Senate 2007-11-26T19:29:43Z Habitat and Land Conservation Act of 2007 - Amends Internal Revenue Code provisions relating to habitat conservation and restoration to: (1) make permanent the special rule allowing an enhanced tax deduction for contributions of capital gain real property for conservation purposes; (2) allow a tax credit for costs and landowner losses relating to habitat protection and restoration; (3) allow a tax deduction for expenditures related to endangered species recovery plans approved by the Endangered Species Act of 1973; (4) exclude from gross income certain payments under the Fish and Wildlife Act of 1956; (5) extend through 2010 the taxpayer election to expense (i.e., deduct in full in the current taxable year) certain environmental remediation expenditures; and (6) allow tax-free exchanges of shares in certain mutual ditch, reservoir, or irrigation companies.

Amends the American Jobs Creation Act of 2004 to change the effective dates applicable to leases of tax-exempt use property to foreign entities.

]]> 80 2007-10-24 Reported to Senate without amendment 2007-11-26T20:27:37Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Habitat and Land Conservation Act of 2007 - Amends the Internal Revenue Code to provide tax incentives for habitat conservation and restoration.

Makes permanent the special rule allowing an enhanced tax deduction for individual and corporate charitable contributions of capital gain real property for conservation purposes.

Allows certain landowners whose property contains the habitat of an endangered or threatened species and who enter into a habitat protection agreement a tax credit for costs and property losses relating to habitat protection easements and restoration. Places limits on the amount of such credit for each of calendar years 2008 through 2012. Directs the Comptroller General of the United States to study and report to Congress on the effectiveness of such credit.

Allows a tax deduction for expenditures related to endangered species recovery plans approved under the Endangered Species Act of 1973.

Excludes from gross income certain payments under: (1) the Partners for Fish and Wildlife Program authorized by the Partners for Fish and Wildlife Act; and (2) the Landowner Incentive Program, the State Wildlife Grants Program, and the Private Stewardship Grants Program authorized by the Fish and Wildlife Act of 1956.

Extends through 2010 the taxpayer election to expense (deduct in the current taxable year) expenditures made for environmental remediation (i.e., abatement or control of hazardous substances at contaminated sites).

Allows tax-free exchanges of shares in certain mutual ditch, reservoir, or irrigation companies.

Amends the American Jobs Creation Act of 2004 to change the effective dates applicable to leases of tax-exempt use property to foreign entities.

]]> Habitat and Land Conservation Act of 2007 Short Titles as Introduced Habitat and Land Conservation Act of 2007 Short Titles as Reported to Senate Habitat and Land Conservation Act of 2007 S Senate Display Title Habitat and Land Conservation Act of 2007 Official Title as Introduced An original bill to amend the Internal Revenue Code of 1986 to provide additional tax incentives to promote habitat conservation and restoration, and for other purposes. Placed on Calendar Senate 2007-10-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2223pcs/xml/BILLS-110s2223pcs.xml 2007-10-24 Placed on Senate Legislative Calendar under General Orders. Calendar No. 442. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.