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2008 Farm Bill2008 Farm Bill Tax provisions
The Farm Bill (H.R. 2419) which Congress enacted on May 22, 2008 includes a powerful tax incentive which has helped conserve over a half a million acres of natural areas, farms, and ranches across the US. The incentive had expired January 1st, but is now retroactive to the beginning of the year and will last through 2009.

The incentive, which applies to a landowner's federal income tax, will:

  • Raise the deduction a donor can take for donating a voluntary conservation agreement from 30% of their income in any year to 50%;
  • Allow farmers and ranchers to deduct up to 100% of their income; and
  • Increase the number of years over which a donor can take deductions from 5 to 15 succeeding years.
Here is an example of how these tax deductions can help.

Here is the IRS code (Internal Revenue Bulletin: 2007-25 ) for the extended tax provisions.


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