[Congressional Record Volume 143, Number 14 (Thursday, February 6, 1997)]
[Extensions of Remarks]
[Page E182]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 THE FEDERAL OPEN SPACE ACQUISITION ACT

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                      HON. RODNEY P. FRELINGHUYSEN

                             of new jersey

                    in the house of representatives

                       Thursday, February 6, 1997

  Mr. FRELINGHUYSEN. Mr. Speaker, today, I am introducing important 
legislation that I hope will further our efforts to preserve land and 
open space.
  I believe that our current tax law discourages individuals from 
conserving land, and our estate tax structure sometimes provides the 
financial incentive to sell land for the purpose of development, rather 
than maintain or donate land for conservation purposes.
  The legislation that I am introducing today, the Federal Open Space 
Acquisition and Preservation Act, will credit the value of land donated 
to a Federal agency, for conservation purposes only, against the estate 
taxes owed on the property. This will create an incentive, absent 
before, for heirs to donate undeveloped land to the Federal Government, 
rather than choose the route of selling to developers.
  As many individuals who live in the northeastern metropolitan areas 
know, the amount of open space is dwindling each day. However, there is 
some beautiful undeveloped land that needs to be preserved as such. I 
believe that this legislation will provide the incentive to maintain 
those open spaces.
  I urge my colleagues support for this legislation.

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