On Wednesday, July 8, 2022, Governor Polis signed SB22-208 into law. As discussed in a prior blog post, the new law provides that if property encumbered by a conservation easement will be condemned, and the property will be acquired free and clear of the conservation easement interest, the condemning authority must value the property as
Department of Justice Indicts Seven Related to Syndicated Conservation Easements
The Department of Justice announced March 1, 2022 that five tax shelter promoters and two appraisers have been charged with conspiracy to defraud the United States and other crimes arising from their promotion of syndicated conservation easements which the indictment alleges were abusive tax shelters. The indictment was issued on February 24, 2022, and alleges
Colorado Division of Conservation Reaches $45 Million Tax Credit Cap for 2021
On February 25, 2022, the Colorado Division of Conservation announced that the 2021 conservation easement tax credit annual cap of $45 million has been reached for the first time since the cap was established in 2014. The Division Director Aaron Welch stated: “The Colorado Division of Conservation is encouraged at the increased pace of private
Update on America the Beautiful Campaign: Year One Report
In December 2021, the America the Beautiful Interagency Working Group provided the first annual report on the America the Beautiful campaign (Year One Report). The report highlights efforts undertaken across the key areas identified in the original America the Beautiful report and identifies next steps in each of these areas to further the
San Isabel Land Protection Trust Merges with Colorado Open Lands
Colorado Open Lands and San Isabel Land Protection Trust announced a merger of operations effective December 31, 2021. The two land trusts have collaborated on a number of projects in the past, and the collaboration is taken to a new level with the merger. Colorado Open Lands has protected more than 600,000 acres of land
Preservation of the Metzler Property in Castle Rock, Colorado
The Metzler Property in Castle Rock, Colorado was preserved today through the generous donation by the Estate of Robert F. Metzler of 60 acres of land to the Town of Castle Rock and a conservation easement to Douglas Land Conservancy (DLC) on 49 of those acres. The Metzler Property is located along Founders Parkway and
Colorado Legislature Expands Conservation Easement Tax Credit
Today the Colorado legislature passed HB21-1233, the Conservation Easement Enhancement and Rural Stimulus Act. The Act was proposed and shepherded by Keep It Colorado, and will now proceed to the Governor’s desk to be signed.
The Act modifies the Colorado conservation easement tax credit program by increasing the amount of tax credits that
America the Beautiful Campaign: The Next Step for the 30×30 Goal
Today the Biden Administration released a preliminary report to the National Climate Task Force titled Conserving and Restoring America the Beautiful. The report provides a vision and plan to preserve at least 30% of the country’s land and waters by 2030 with a locally led America the Beautiful campaign.
Continue Reading America the Beautiful Campaign: The Next Step for the 30×30 Goal
Colorado Department of Revenue Adopts Revised Conservation Easement Tax Credit Regulations
In a previous post, we noted that the Colorado Department of Revenue (CDOR) was considering revisions to conservation easement tax credit regulations, and on March 17, 2021, those revisions were adopted. Rule 39-22-104(3)(g), Rule 39-22-304(2)(f) and Rule 39-22-522 will become effective on April 30, 2021. As a reminder, the amendments are intended to conform the regulations to House Bill 19-1264 signed into law on June 3, 2019, which included a number of substantive revisions to the conservation easement enabling statute (C.R.S. § 38-30.5-101, et seq.) and the conservation easement tax credit program in Colorado.
Continue Reading Colorado Department of Revenue Adopts Revised Conservation Easement Tax Credit Regulations
Update on Syndicated Conservation Easements – Criminal Prosecutions of Promoters
Bloomberg reported today about the criminal prosecutions of two promoters of syndicated conservation easements. The article details the guilty pleas of two brothers, Stein Agee and Corey Agee, to federal tax-fraud conspiracy charges. Their scheme involved classic syndication collaboration with lawyers, accountants and appraisers to sell shares in entities donating conservations easements and then overvaluing