Bill to Extend and Expand Colorado’s Conservation Easement Tax Credit
Introduced in State Senate
February 7, 2024 – GOLDEN – Last night, a bill to extend and expand Colorado’s Conservation Easement Tax Credit was introduced in the State Senate. Sponsored by Senators Faith Winter and Perry Will, and Representatives Meghan Lukens and Mike Lynch, Senate Bill 126 aims to build upon the immense success of the tax credit program by eliminating the expiration dates of the Conservation Easement Oversight Commission and the Certified Holder program. It also proposes to raise the tax credit cap to $75 million to meet the current demand and expand the state's conservation reach.
“There is no doubt that Coloradans of all stripes recognize how important conservation is for our state’s beloved lands, waters, wildlife and people,” said Amy Beatie, executive director of Keep It Colorado. “It's time for the state to expand its support for one of the most critical conservation tools at our disposal: the Conservation Easement Tax Credit. We are grateful to our sponsors for their leadership in spearheading this bill that will help the state to meet current demand, address the backlog in current projects, and ensure that we do not miss opportunities for conservation efforts across Colorado.”
“The Conservation Easement Tax Credit program is an unsung hero in our fight for a healthy, resilient, equitable and beautiful Colorado,” said Sen. Faith Winter, D-Westminster. “Our bipartisan bill will extend and expand the program so that Coloradans can play a role in protecting biodiversity, reducing carbon emissions and supporting local economies for generations to come.”
“Colorado is a state made of special places - it always has been, and it's up to us to make sure that it always will be,” said Sen. Perry Will, R-New Castle. “I’m proud to be sponsoring this bill that will protect habitats and empower more Coloradans to preserve the land that we all call home.”
“I’m proud to join my colleagues in sponsoring this important bipartisan effort,” said Rep. Meghan Lukens, D - Steamboat Springs. “We are confident that this bill will help to spur a new era of conservation in Colorado that will provide a myriad of benefits to Coloradans in every corner of the state.”
“For over 20 years, hard working people around the state have generously shared the fruits of their labor for the benefit of all Coloradans - it is important that those contributions are not only rewarded but further incentivized,” said Rep. Mike Lynch, R- Wellington. “Our bill will ensure that good work can continue, and that the Colorado we know and love is conserved for generations to come.”
The bill’s introduction comes on the heels of recent polling that shows that 83% of Colorado voters feel that more needs to be done to protect land, water and wildlife habitat in the state. A 2023 CSU Department of Agriculture and Resource Economics report shows that Coloradans have good reason to feel bullish on conservation: It estimates that for every $1 Colorado invests in conservation, the public receives between $31 and $49 in economic return. The total cumulative impact of conservation easement tax credits to Colorado taxpayers is estimated to be between $35 billion and $57 billion, or about $20,000 per acre conserved. View the infographic.
From protection of wildlife habitat, critical wetlands, urban open space, and working farms and ranches, to carbon reduction, support for biodiversity, and contributions to rural economic resiliency, conservation benefits all Coloradans.
Click here to learn more about the Conservation Easement Tax Credit Program, and what Coloradans have accomplished thanks to support from the program. View a brief video.
Also available is a list of supporting organizations - view our Policy Work page.
Photo credit: James Ranch
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Contact:
Alexandra Eliot, alexandra@freestone-strategies.com, 720-891-8921
Gaspar Perricone, gaspar@freestone-strategies.com, 970-846-0669
