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

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

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

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

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

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