Complete America’s Great Trails Act

Tax credit for donating trail land

If enacted, this bill would create a new federal income tax credit equal to the fair market value of land you donate that includes a National Scenic Trail and its trail corridor. You would have to make an irrevocable election to take the credit and you could not also claim a tax deduction for the same gift. Trail corridor rules would generally require at least 50 feet on each side and cap corridor width at 2,640 feet, with specific exceptions for smaller parcels and nearby structures. Fair market value would be set under the usual conservation rules but, to the extent practicable, reflect the property's highest and best use. The part of the credit tied to land used in a business or held for income would be treated as a business tax credit; the rest would be a personal credit. If you cannot use the whole credit in one year, you could carry unused amounts forward up to ten taxable years, used FIFO and subject to normal credit limits. The Interior Secretary, with the Treasury Secretary, would study the credit and report to Congress within four years on making it refundable or transferable. The credit would apply to contributions made after enactment.