Legis Daily

To amend the Internal Revenue Code of 1986 to exclude from gross income gain the sale of land and/or other qualified real property interests in sales for conservation purposes.

USA115th CongressHR-6999| House 
| Updated: 9/28/2018
Mark Meadows

Mark Meadows

Republican Representative

North Carolina

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Conservation Capital Gains Exclusion Act of 2018 This bill amends the Internal Revenue Code to exclude from gross income, for income tax purposes, any gain from the sale of land or a qualified real property interest to a qualified organization exclusively for conservation purposes. A "qualified organization" includes certain governmental units and tax-exempt organizations. A "qualified real property interest" is any interest in real property that is: (1) the entire interest of the taxpayer, (2) a remainder interest, or (3) a restriction (granted in perpetuity) on the use which may be made of the real property.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Sep 28, 2018
Introduced in House
Sep 28, 2018
Referred to the House Committee on Ways and Means.
  • September 28, 2018
    Introduced in House


  • September 28, 2018
    Referred to the House Committee on Ways and Means.

Taxation

Capital gains taxIncome tax exclusionLand transfersLand use and conservation

To amend the Internal Revenue Code of 1986 to exclude from gross income gain the sale of land and/or other qualified real property interests in sales for conservation purposes.

USA115th CongressHR-6999| House 
| Updated: 9/28/2018
Conservation Capital Gains Exclusion Act of 2018 This bill amends the Internal Revenue Code to exclude from gross income, for income tax purposes, any gain from the sale of land or a qualified real property interest to a qualified organization exclusively for conservation purposes. A "qualified organization" includes certain governmental units and tax-exempt organizations. A "qualified real property interest" is any interest in real property that is: (1) the entire interest of the taxpayer, (2) a remainder interest, or (3) a restriction (granted in perpetuity) on the use which may be made of the real property.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Sep 28, 2018
Introduced in House
Sep 28, 2018
Referred to the House Committee on Ways and Means.
  • September 28, 2018
    Introduced in House


  • September 28, 2018
    Referred to the House Committee on Ways and Means.
Mark Meadows

Mark Meadows

Republican Representative

North Carolina

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Capital gains taxIncome tax exclusionLand transfersLand use and conservation