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or function constituting the donee’s purpose for
exemption (organizations such as nature conservancies,
environmental, and historic trusts, State and local
governments, etc.) and the donee is able to enforce its
rights as holder of the easement * * * and protect the
conservation purposes which the contribution is
intended to advance. The requirement that the
contribution be exclusively for conservation purposes
is also intended to limit deductible contributions to
those transfers which require that the donee hold the
easement * * * exclusively for conservation purposes
(i.e., that they not be transferable by the donee in
exchange for money, other property, or services). [H.
Conf. Rept. 95-263, at 30-31 (1977), 1977-1 C.B. 519,
523.]
As originally enacted, the provisions of former section
170(f)(3)(B)(iii) did not apply to contributions made after
June 13, 1981. TRSA sec. 309(b)(1), 91 Stat. 154. In the Tax
Treatment Extension Act of 1980 (TTEA), Pub. L. 96-541,
sec. 6(a), 94 Stat. 3206, Congress effectively extended those
provisions permanently. The Senate report behind this extension
noted the committee’s belief that the preservation of our
country’s natural resources and cultural heritage was important
and that conservation easements play an important role in this
preservation. S. Rept. 96-1007, supra at 9, 1980-2 C.B. at 603.
The report also noted that
The committee also recognizes that it is not in the
country’s best interest to restrict or prohibit the
development of all land areas and existing structures.
Therefore, the committee believes that provisions
allowing deductions for conservation easements should
be directed at the preservation of unique or otherwise
significant land areas or structures. Accordingly, the
committee has agreed to extend the expiring provisions
of present law on a permanent basis and modify those
provisions in several respects.
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