To amend the Internal Revenue Code of 1986 to extend the deduction for contributions of real property made for conservation purposes.

Amends the Internal Revenue Code to extend through 2008 the tax deduction for charitable contributions of real property made for conservation purposes.

[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3623 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 3623

To amend the Internal Revenue Code of 1986 to extend the deduction for 
     contributions of real property made for conservation purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 20, 2007

 Mr. Patrick J. Murphy of Pennsylvania (for himself and Mr. Gilchrest) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to extend the deduction for 
     contributions of real property made for conservation purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXTENSION OF DEDUCTION FOR QUALIFIED CONSERVATION 
              CONTRIBUTIONS.

    (a) In General.--Clause (vi) of section 170(b)(1)(E) of the 
Internal Revenue Code of 1986 (relating to termination of deduction for 
qualified conservation contributions) is amended by striking ``December 
31, 2007'' and inserting ``December 31, 2008''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to contributions made in taxable years beginning after December 
31, 2007.
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