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Agenda - 03-18-1997 - 9a
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Agenda - 03-18-1997 - 9a
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Last modified
7/11/2013 2:26:03 PM
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7/11/2013 2:26:00 PM
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BOCC
Date
3/18/1997
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
9a
Document Relationships
Minutes - 19970318
(Linked From)
Path:
\Board of County Commissioners\Minutes - Approved\1990's\1997
RES-1997-013 Resolution Adoption of 1997 Orange County Legislative Goals - Occupancy Tax
(Linked From)
Path:
\Board of County Commissioners\Resolutions\1990-1999\1997
RES-1997-014 Resolution Adoption of 1997 Orange County Legislative Goals
(Linked From)
Path:
\Board of County Commissioners\Resolutions\1990-1999\1997
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20' <br /> EXPLANATION OF CONSERVATION TAX CREDIT LEGISLATION <br /> N.C. GENERAL ASSEMBLY, 1897 SESSION <br /> SENATE BILLS 176 (structure) and 175 (appropriation) <br /> lead sponsors Sen. E. Sinnaird and H. Horton <br /> HOUSE BILLS 260 (structure) and 241 (appropriation) <br /> lead sponsors Rep. L. Gray and F. Mitchell <br /> PURPOSE: To increase the state income tax credit awarded to private property owners who <br /> voluntarily donate land or easements for conservation purposes. Current state law provides a- <br /> maximum of$25,000 in income tax credits for each land conservation gift made to public agencies or <br /> qualified not-for-profit, private conservation organizations. (The credit is based dollar-for-dollar up to <br /> 25% of the appraised value of land gift, but no more than$25,000 per gift. Any unused portion of the <br /> credit can be carried over by the taxpayer for five succeeding years.) The bill (SB 176 and HB 260) <br /> will increase the maximum credit to$100,000 for individual donors and$250,000 for corporate donors. <br /> The appropriation bill (SB 175 and HB 241) provides funds to the NC Department of Environment, <br /> Health and Natural Resources to: (a) cover program information and administrative costs to review <br /> and certify donated properties as qualified for the required public benefits for park, public recreation, <br /> and other land conservation purposes; and (b) establish a grant-in-aid program ($300,000 annually) to <br /> cover expenses of qualified, private conservation organizations incurred in arranging land and easement <br /> donations and managing or monitoring those properties. <br /> LEGISLATIVE ORIGINS: This legislation has been recommended by the Governor's Coastal <br /> Futures Commission and the Year of the Mountains Commission. It was recommended in the <br /> Governor's Coastal Agenda It is recommended by the joint House-Senate Environmental Review <br /> Commission. It is supported by the NC Department of Environment, Health, and Natural Resources. <br /> It is supported by North Carolina business and industry, by local government associations, and by <br /> environmental organizations. <br /> PROGRAM HISTORY: The state income tax credit for land conservation was first enacted in 1983 <br /> (with a$5,000 maximum credit). The cap was raised to$25,000 by the General Assembly in 1989. In <br /> the period from 1983-88 ($5,000 cap) 37 land donations (average of 6 gifts per year) qualified for tax <br /> credits (total of 2,383 acres valued at$5,642,000); and from 1989-95 ($25,000 cap) 95 land donations <br /> (average of 13.6 each year) qualified for tax credits (a total of 23,714 acres valued at$34,264,000). <br /> [Note that the maximum tax credit allowed is 25% of the value of the property donated, and, <br /> therefore, the current credit related revenue reduction is less than$300,000 per year for conservation <br /> lands annually donated for public benefit valued at$1,210,000. By DEHNR calculations, the tax credit <br /> program has delivered a 13:1 value to the public, with$13 in donated land values for every$1 of <br /> income tax credits.] The NC DEHNR has no funded staff positions to fulfill its obligations to review <br /> and approve applications for the tax credit, or to promote and explain the program. <br /> RATIONALE FOR THE CREDIT INCREASE: State and local public agencies and a statewide <br /> network of private, non-profit land conservation organizations are responding to the rapid destruction <br /> of North Carolina's natural areas and rural landscapes with programs designed to encourage voluntary <br /> conservation by private landowners. We need alternatives to relying on land use regulations or public <br /> purchases at full market value of all lands important for protection of river natural corridors, natural <br /> wildlife habitats, parks and greenways, beach access, scenic and open space landscapes, and farmlands <br /> in urban areas. New state programs have established funds to acquire and protect important <br /> environmental lands, such as the Clean Water Management Trust Fund, the Natural Heritage Trust <br /> Fund, the Parks and Recreation Trust Fund, and Wetlands Restoration Fund. Those public funds can <br /> go further when landowners are willing to sell for less than the full property value (Le., partially <br />
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