A companion for H.R. 4459
iAs much as I wish it wasn't the case, abusive syndicated easement transactions remain a huge concern for the Land Trust Alliance and our entire community. But there is good news!
Today, we are one step closer to ending this threat thanks in part to Sens. Steve Daines of Montana, a Republican, and Debbie Stabenow of Michigan, a Democrat, who have come together to introduce the bipartisan Charitable Conservation Easement Program Integrity Act (S. 2436).
As a companion bill to H.R. 4459, cosponsored by Reps. Mike Thompson of California, a Democrat, and Mike Kelly of Pennsylvania, a Republican, the Senate bill sends an equally strong message to the proponents of these transactions: the United States Senate will no longer stand for such abuse. And neither will we.
For more than eight years, the Land Trust Alliance has worked to halt these abusive transactions. In 2010, we first began talking with the IRS about the problem. In the years that followed, the Alliance issued our first advisory on the matter, educated our members, updated Land Trust Standards and Practices, supported IRS Notice 2017-10 and, most recently, revised our Tax Shelter Advisory. Through these actions and many more, we have made it clear that to be a part of the Alliance family, one cannot participate in these transactions.
Today’s announcement bolsters the message that Congress is now stepping up and making it clear that these transaction must stop. While we all sincerely hope this bill becomes law, we know those who oppose it will do all that is in their power to ensure it never becomes law. That is why I call on you to join me in seizing this opportunity to put an end to these transactions once and for all.
Please call and email your members of Congress and ask them to support — and even cosponsor — S. 2436 or H.R. 4459. Together, we can ensure the goodwill and public support for charitable land conservation isn't squandered by selfish profiteers.
Lori Faeth is government relations director for the Land Trust Alliance.