H.R.2290 - Conservation Tax Incentives Act of 2001107th Congress (2001-2002)
||Rep. Portman, Rob [R-OH-2] (Introduced 06/21/2001)
||House - Ways and Means
||06/21/2001 Referred to the House Committee on Ways and Means. (All Actions)
This bill has the status Introduced
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Introduced in House (06/22/2001)
Conservation Tax Incentives Act of 2001 - Amends the Internal Revenue Code to exclude from gross income 50 percent of any gain from the sale of land or an interest in land or water to an eligible entity if: (1) such land or interest in land or water was owned by the taxpayer or a member of the taxpayer's family at all times during the 3-year period ending on the date of the sale; and (2) such land or interest in land or water is being acquired by an eligible conservation entity which provides the taxpayer, at the time of acquisition, a written letter of intent stating that the purchaser's intent in making the acquisition is to serve specified conservation purposes.