301 CMR, 14:00, Conservation Land Tax Credit

Chapter 509 of the Acts of 2008 establishes a state income tax credit for landowners who voluntarily donate qualifying conservation land to a municipality, the state or a nonprofit conservation organization. Under the initiative, EEA established regulations to determine whether properties proposed for donation meet public interest standards for natural resource protection. These regulations define interests in real property that are eligible for certification as a Qualified donation under M.G.L. c. 62, § (6)(p) and under M.G.L. c. 63, § 38AA. Eligible lands include those that protect drinking water supplies, wildlife habitat and scenic vistas.

Below are links to both the regulations and to the 2012 application. Please read through both carefully before applying.

301 CMR 14:00 Conservation Land Tax Credit Regulations pdf format of conservation-credit-regs.pdf

Conservation Land Tax Credit Application pdf format of Conservation Land Tax Credit Application

General CLTC Selection Criteria pdf format of General CLTC Selection Criteria

Applications are accepted on a “rolling” basis during 2012 (there is no lottery this year).  Landowners may be donating either land, a conservation restriction or entering into a bargain sale. The donation must occur during calendar year 2012 to be eligible (recorded at the registry). The application period for all 2011 donations is CLOSED.

The Commonwealth will provide 50% of the appraised donation value, up to $50,000, to the donor in the form of a tax credit. Please note that tax credits are permitted for less than the $50,000 cap, i.e. if the donated land is valued at $20,000, the land owner would receive $10,000 through a tax credit.

Thank you for your interest in this program. If you have questions please call us at 617-626-1011.

 

This information is provided by the Executive Office of Energy and Environmental Affairs.