Massachusetts House eyes land conservation with larger pool of tax credits

The Massachusetts House on Monday agreed to a significant expansion of tax credits aimed at spurring land donations to public or private conservation agencies. A Republican-sponsored amendment approved without debate increases the amount of money available through the conservation land tax credit from $2 million to $5 million over a three-year period beginning Jan. 1, 2018.The increased credit would sunset on Dec. 31, 2025, according to House Minority Leader Brad Jones.There’s a backlog of tax credit applications and more credits will lead to more land protection, according to Jones.The credit is equal to 50 percent of the fair market value of the donated property, with a maximum credit of $75,000 for each qualified donation.Between 2011 and 2016, the program provided $10.7 million in credits associated with the permanent protection of 10,435 acres of donated conservation land valued at $46.3 million, the minority leader’s office said.