[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 10521 Introduced in House (IH)]
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118th CONGRESS
2d Session
H. R. 10521
To amend the Internal Revenue Code of 1986 to allow a credit against
income tax for qualified conservation contributions which include
National Scenic Trails.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
December 19, 2024
Mr. Connolly introduced the following bill; which was referred to the
Committee on Ways and Means, and in addition to the Committee on
Natural Resources, for a period to be subsequently determined by the
Speaker, in each case for consideration of such provisions as fall
within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to allow a credit against
income tax for qualified conservation contributions which include
National Scenic Trails.
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 ``Complete America's Great Trails
Act''.
SEC. 2. NATIONAL SCENIC TRAIL CONSERVATION CREDIT.
(a) In General.--Subpart B of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 is amended by adding at the end
the following new section:
``SEC. 30E. NATIONAL SCENIC TRAIL CONSERVATION CREDIT.
``(a) Allowance of Credit.--There shall be allowed as a credit
against the tax imposed by this chapter for the taxable year an amount
equal to the fair market value of any National Scenic Trail
conservation contribution of the taxpayer for the taxable year.
``(b) National Scenic Trail Conservation Contribution.--For
purposes of this section--
``(1) In general.--The term `National Scenic Trail
conservation contribution' means any qualified conservation
contribution--
``(A) to the extent the qualified real property
interest with respect to such contribution includes a
National Scenic Trail (or portion thereof) and its
trail corridor, and
``(B) with respect to which the taxpayer makes an
election under this section.
``(2) National scenic trail.--The term `National Scenic
Trail' means any trail authorized and designated under section
5 of the National Trails System Act (16 U.S.C. 1244).
``(3) Trail corridor.--
``(A) In general.--The term `trail corridor' means
so much of the corridor of a trail as is--
``(i) subject to subparagraph (B), not less
than 50 feet wide on each side of such trail,
and
``(ii) not greater than 2,640 feet wide.
``(B) Exceptions.--
``(i) Less than 50 feet wide on a side of
the trail.--In the case of an interest in real
property of the taxpayer which includes less
than 50 feet on either side of the trail, the
trail corridor shall include the entire
distance with respect to such interest on such
side.
``(ii) Building and structures near the
trail.--In the case of an interest in real
property of the taxpayer which includes a
residence or structure owned by the taxpayer
which is located less than 50 feet from the
trail, the trail corridor for the side of the
trail on which the residence or structure is
located shall include such distance from the
trail as is determined appropriate by the
taxpayer.
``(4) Qualified conservation contribution; qualified real
property interest.--The terms `qualified conservation
contribution' and `qualified real property interest' have the
respective meanings given such terms by section 170(h), except
that paragraph (2)(A) thereof shall be applied without regard
to any qualified mineral interest (as defined in paragraph (6)
thereof).
``(c) Special Rules.--
``(1) Fair market value.--Fair market value of any National
Scenic Trail conservation contribution shall be determined in
the same manner as qualified conservation contributions under
section 170, except that in any case, to the extent
practicable, fair market value shall be determined by reference
to the highest and best use of the real property with respect
to such contribution.
``(2) Election irrevocable.--An election under this section
may not be revoked.
``(3) Denial of double benefit.--No deduction shall be
allowed under this chapter with respect to any qualified
conservation contribution with respect to which an election is
made under this section.
``(d) Application With Other Credits.--
``(1) Business credit treated as part of general business
credit.--So much of the credit which would be allowed under
subsection (a) for any taxable year (determined without regard
to this subsection) that is attributable to property used in a
trade or business or held for the production of income shall be
treated as a credit listed in section 38(b) for such taxable
year (and not allowed under subsection (a)).
``(2) Personal credit.--For purposes of this title, the
credit allowed under subsection (a) for any taxable year
(determined after the application of paragraph (1)) shall be
treated as a credit allowable under subpart A for such taxable
year.
``(e) Carryforward of Unused Credit.--
``(1) In general.--If the credit allowable under subsection
(a) exceeds--
``(A) the limitation imposed by section 26(a) for
any taxable year, reduced by
``(B) the sum of the credits allowable under
subpart A (other than this section) for the taxable
year,
such excess shall be carried to the succeeding taxable year and
added to the credit allowable under subsection (a) for such
succeeding taxable year.
``(2) Limitation.--No credit may be carried forward under
this subsection to any taxable year following the tenth taxable
year after the taxable year in which the credit arose. For
purposes of the preceding sentence, credits shall be treated as
used on a first-in first-out basis.''.
(b) Continued Use Not Inconsistent With Conservation Purposes.--A
contribution of an interest in real property shall not fail to be
treated as a National Scenic Trail conservation contribution (as
defined in section 30E(b) of the Internal Revenue Code of 1986) solely
by reason of continued use of the real property, such as for
recreational or agricultural use (including motor vehicle use related
thereto), if, under the circumstances, such use does not impair
significant conservation interests and is not inconsistent with the
purposes of the National Trails System Act (16 U.S.C. 1241 et seq.).
(c) Study Regarding Efficacy of National Scenic Trail Conservation
Credit.--
(1) In general.--The Secretary of the Interior shall, in
consultation with the Secretary of the Treasury, study--
(A) the efficacy of the National Scenic Trail
conservation credit under section 30E of the Internal
Revenue Code of 1986 in completing, extending, and
increasing the number of National Scenic Trails (as
defined in section 30E(b) of such Code), and
(B) the feasibility and estimated costs and
benefits of--
(i) making such credit refundable (in whole
or in part), and
(ii) allowing transfer of such credit.
(2) Report.--Not later than 4 years after the date of the
enactment of this Act, the Secretary of the Interior shall
submit a report to Congress on the results of the study
conducted under this subsection.
(d) Conforming Amendment.--The table of sections for subpart B of
part IV of subchapter A of chapter 1 of such Code is amended by adding
at the end the following new item:
``30E. National Scenic Trail conservation credit.''.
(e) Effective Date.--The amendments made by this section shall
apply to contributions made after the date of the enactment of this
Act.
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