As a father, grandfather, and great grandfather, I understand the desire to create and maintain a lasting legacy for our children and grandchildren. It is innate human nature to hope that our way of life and the things we value and love be preserved for future generations to enjoy.
For many in Utah, living a rural way of life and maintaining family land for historic uses is a crucial part of the legacy they hope to leave for posterity. But over the last ten years, as Utah has become one of the fastest growing states in the country, pressure has also grown for farmers, ranchers and landowners to sell or develop valuable family land. This is why I and my colleague Max Baucus (D-Mont.) introduced the Rural Heritage Conservation Extension Act, which permanently extends tax relief for landowners who choose to sell or donate their rural lands for conservation. We understand the great heritage of ranchers, farmers and landowners in America, and this Act will enable them to continue their rural way of life for generations to come.
Senator Baucus and I have proposed the permanent extension of this bill with the landowners of Utah and Montana in mind. This common sense legislation is a win-win for rural America for a number of reasons. It allows all taxpayers to deduct up to 50 percent of their adjusted gross income (AGI) for qualified donations of conservation easements. Any unused deduction can be carried forward for up to 15 years. The bill further benefits farmers and ranchers by allowing them to deduct up to 100 percent of their AGI for donations of conservation easements. In the years since this bill has been passed into law, it has already benefited many Utah families who hope to maintain a legacy of rural living for their children and grandchildren.
I understand and take the responsibility of representing our great state and its citizens very seriously, and I rely on the feedback and recommendations of Utahns most closely connected to the land to guide me as I defend and create legislation with them in mind. I have fostered and maintained a close relationship with representatives from the organizations representing the farmers, ranchers and landowners in Utah and made every effort to listen to the needs of these individuals.
Over the last ten years as Utah has become one of the fastest growing states in the country, pressure on farmers and ranchers to sell or develop their land has increased. This pressure strengthens the need for legislation like the Rural Heritage Conservation Act, so we can enable individuals and families to keep their farms and ranches in the family. Besides preserving an important aspect of the heritage of the state, maintaining the land for rural purposes also helps protect unique and prime farmlands which provide food security for the nation.
The introduction of the permanent extension of this bill gives me renewed confidence and hope that the heritage of rural Utah will be preserved and continued for future generations to enjoy. If individuals choose, tools and options will continue to be available to keep their children and their children’s children and families on their farms, ranches and rural land for years to come.
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