Colorado may crack down on land conservation deals
DENVER, Colorado ” State lawmakers are vowing to crack down on landowners who abuse the tax breaks that come with conservation easements.
Lawmakers said Tuesday they plan to introduce a bill requiring state officials to review any proposed easements.
Conservation easements guarantee that land will not be developed. Property owners can write off easements as a charitable contributions, and they get to keep the land.
State officials say they have found widespread abuse of the program, including people who got tax credits for agreeing to preserve their back yards.
Officials say things got so far out of control they had to ask the IRS to audit people who claimed credits they weren’t entitled to.