[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 641 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 641

   To amend the Internal Revenue Code of 1986 to make permanent the 
special rule for contributions of qualified conservation contributions.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 2, 2015

Mr. Kelly of Pennsylvania (for himself, Mr. Thompson of California, Mr. 
Benishek, Mr. Blumenauer, Mrs. Capps, Mr. Costello of Pennsylvania, Mr. 
  Dent, Mr. Doggett, Ms. Esty, Mr. Frelinghuysen, Mr. Garamendi, Mr. 
  Joyce, Ms. Kaptur, Mr. Kind, Ms. Kuster, Mr. Larson of Connecticut, 
  Mrs. Lummis, Mr. McDermott, Mr. McGovern, Mr. Meehan, Mr. Neal, Mr. 
Rangel, Mr. Reed, Ms. Linda T. Saanchez of California, Mr. Schock, Mr. 
    Sensenbrenner, Ms. Tsongas, Mr. Walz, Mr. Gibson, Mr. Smith of 
 Missouri, Mr. Marino, Mr. Young of Alaska, Mr. Welch, Mr. Zinke, Mr. 
  Murphy of Florida, and Mr. Sanford) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to make permanent the 
special rule for contributions of qualified conservation contributions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Conservation Easement Incentive Act 
of 2015''.

SEC. 2. SPECIAL RULE FOR CONTRIBUTIONS OF QUALIFIED CONSERVATION 
              CONTRIBUTIONS MADE PERMANENT.

    (a) In General.--
            (1) Individuals.--Subparagraph (E) of section 170(b)(1) of 
        the Internal Revenue Code of 1986 (relating to contributions of 
        qualified conservation contributions) is amended by striking 
        clause (vi).
            (2) Corporations.--Subparagraph (B) of section 170(b)(2) of 
        such Code (relating to qualified conservation contributions) is 
        amended by striking clause (iii).
    (b) Contributions of Capital Gain Real Property Made for 
Conservation Purposes by Native Corporations.--
            (1) In general.--Section 170(b)(2) of such Code is amended 
        by redesignating subparagraph (C) as subparagraph (D), and by 
        inserting after subparagraph (B) the following new 
        subparagraph:
                    ``(C) Qualified conservation contributions by 
                certain native corporations.--
                            ``(i) In general.--Any qualified 
                        conservation contribution (as defined in 
                        subsection (h)(1)) which--
                                    ``(I) is made by a Native 
                                Corporation, and
                                    ``(II) is a contribution of 
                                property which was land conveyed under 
                                the Alaska Native Claims Settlement 
                                Act,
                        shall be allowed to the extent that the 
                        aggregate amount of such contributions does not 
                        exceed the excess of the taxpayer's taxable 
                        income over the amount of charitable 
                        contributions allowable under subparagraph (A).
                            ``(ii) Carryover.--If the aggregate amount 
                        of contributions described in clause (i) 
                        exceeds the limitation of clause (i), such 
                        excess shall be treated (in a manner consistent 
                        with the rules of subsection (d)(2)) as a 
                        charitable contribution to which clause (i) 
                        applies in each of the 15 succeeding years in 
                        order of time.
                            ``(iii) Native corporation.--For purposes 
                        of this subparagraph, the term `Native 
                        Corporation' has the meaning given such term by 
                        section 3(m) of the Alaska Native Claims 
                        Settlement Act.''.
            (2) Conforming amendment.--Section 170(b)(2)(A) of such 
        Code is amended by striking ``subparagraph (B) applies'' and 
        inserting ``subparagraph (B) or (C) applies''.
            (3) Valid existing rights preserved.--Nothing in this 
        subsection (or any amendment made by this subsection) shall be 
        construed to modify the existing property rights validly 
        conveyed to Native Corporations (within the meaning of section 
        3(m) of the Alaska Native Claims Settlement Act) under such 
        Act.
    (c) Effective Date.--The amendments made by this section shall 
apply to contributions made in taxable years beginning after December 
31, 2014.
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