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

On February 17, 2021, Douglas Land Conservancy (DLC) and Douglas County partnered to protect 2,558 acres with perpetual conservation easements on two Douglas County open space properties.  Sandstone Ranch (2,038 acres) and the Schmidt Construction Open Space (520 acres) were both acquired by Douglas County in cooperation with the Chatfield Reservoir Mitigation Company to provide mitigation for the Preble’s meadow jumping mouse as part of the Chatfield Storage Reallocation Project.  The purchase of Sandstone Ranch was also completed with funding from Great Outdoors Colorado
Continue Reading Douglas Land Conservancy Protects 2,558 Acres in Douglas County

On December 7, 2020, the Colorado Department of Revenue (CDOR) issued a general information letter [Colo. Dep’t of Revenue, Gen. Info. Letter GIL-20-003, 12/07/20] regarding the eligibility of a mutual ditch company to claim a Colorado conservation easement tax credit, except when a state governmental entity is a shareholder.  CDOR determined that a mutual ditch

Keep it Colorado announces its breathtaking new video “”Keep It Colorado: Creating a Colorado Where People, Lands, Waters and Wildlife Thrive.”   The video was a collaboration of Keep It Colorado and its member land trusts and includes footage of properties preserved with conservation easements across the state.  Bravo to Keep It Colorado and all of

in December, Douglas Land Conservancy (DLC) accepted conservation easement charitable donations on two separate properties in Douglas County for the permanent protection of open space and wildlife habitat.  The Meyer family donated a conservation easement on 40 acres of land in Sedalia near the Pike National Forest.  This newly-conserved parcel is adjacent to 440 acres

Colorado Open Lands (COL) announced yesterday that the organization completed its 500th conservation project in Colorado this month.  COL has now conserved more than 585,000 acres in Colorado.  Congratulations to COL and to its dedicated staff, Board members and volunteers on this impressive milestone!

The Trust for Public Land (TPL) reports that 26 conservation measures supported by TPL in the 2020 election were approved by voters, amounting to nearly $3.7 billion in funding for land conservation, parks, climate resiliency and habitat.  Four of these ballot measures were located in the Rocky Mountain region in Colorado and Montana.
Continue Reading 2020 Conservation Ballot Measures Approved in the Rocky Mountains

The IRS Office of Chief Counsel provides guidance in Notice CC 2021-001 regarding settlement options offered by the IRS for U.S. Tax Court cases currently pending under Notice 2017-10 for syndicated conservation easement transactions.  The Notice provides information about financial terms and process for settlement in an effort to promote efficient and consistent resolutions of