No CRS summary available for this bill.
This section establishes a nonrefundable tax credit equal to the fair market value of any qualified conservation contribution that includes a National Scenic Trail (as designated under 16 U.S.C. 1244) or portion thereof and its corridor. The corridor must be at least 50 feet wide on each side of the trail and no more than 2,640 feet wide, with exceptions for narrower interests or nearby structures; the credit may be carried forward for up to 10 years and is treated as a general business credit when attributable to business or investment property. It also permits continued recreational or agricultural use of the property if such use does not impair significant conservation interests, and it requires the Secretary of the Interior, in consultation with the Secretary of the Treasury, to study the credit’s efficacy and the feasibility of making it refundable or transferable and to report to Congress within 4 years.