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Internal Revenue Code Section 170(h): National Perpetuity Standards for Federally Subsidized Conservation Easements – Part 2: Comparison to State Law


Nancy A. McLaughlin


University of Utah S.J. Quinney College of Law

July 18, 2011

Real Property, Trust & Estate Law Journal, Vol. 46, p. 1, 2011

Abstract:     
This article is the second of two companion articles. The first article analyzed the requirements in Internal Revenue Code section 170(h) that a deductible conservation easement be “granted in perpetuity” and its conservation purpose be “protected in perpetuity.” That Article concluded that section 170(h) and the Treasury Regulations should be interpreted as establishing uniform national perpetuity standards for tax-deductible conservation easement donations.

This second article surveys the over one hundred statutes extant in the fifty states and the District of Columbia that authorize the creation or acquisition of conservation easements. This article concludes that, to be eligible for the federal subsidy under section 170(h), conservation easement donors should be required to satisfy both federal tax law and any state enabling statute requirements relating to the transfer, release, modification, or termination of conservation easements. This article also recommends that the IRS issue guidance regarding satisfaction of the federal perpetuity requirements to promote more efficient and equitable review, interpretation, and enforcement of federally subsidized conservation easements.

Number of Pages in PDF File: 123

Keywords: conservation easement, conservation easement modification or termination or extinguishment, section 170(h), state enabling statute, conservation easement enabling statute

JEL Classification: H20, K11, K32, K34, O13, Q15, Q24

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Date posted: July 20, 2011  

Suggested Citation

McLaughlin, Nancy A., Internal Revenue Code Section 170(h): National Perpetuity Standards for Federally Subsidized Conservation Easements – Part 2: Comparison to State Law (July 18, 2011). Real Property, Trust & Estate Law Journal, Vol. 46, p. 1, 2011 . Available at SSRN: http://ssrn.com/abstract=1888689

Contact Information

Nancy A. McLaughlin (Contact Author)
University of Utah S.J. Quinney College of Law ( email )
332 South 1400 East, Rm 101
Salt Lake City, UT 84112-0730
United States
801-581-5944 (Phone)
801-581-6897 (Fax)

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