AB 94: How to save land and money

In 2000 California adopted an innovative program to make it easier for willing landowners to donate their valuable open space and habitat land to the state for ongoing public benefit. The Natural Heritage Preservation Tax Credit combined a 55% state tax credit, paid from bond funds dedicated to resource land acquisition, not the General Fund, with a federal tax deduction to allow landowners to be compensated at close to fair market value. Unfortunately, the program sunsetted in 2008. AB 94 (Evans) restores the tax credit until 2015, lifts the $100 million cap on total credits and allows local governments to receive donated land.