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For Immediate Release
Defenders of Wildlife Applauds Senate Finance Committee for Passage of Legislation Encouraging Conservation of Endangered Species on Private Lands
Bill provides tax incentives for landowners to protect endangered, threatened species
WASHINGTON – A bill passed today by the Senate Finance Committee represents an important step forward in providing incentives for private landowners to protect threatened and endangered species that live on their lands.
The Endangered Species Recovery Act of 2007 (S. 700) aims to make private landowners partners in conservation by providing $400 million a year in new tax credits, plus additional deductions and exclusions, for citizens who take steps to help endangered or threatened species on the properties they own. The bipartisan bill was introduced by Senators Mike Crapo (R-ID) and Blanche Lincoln (D-AR), and cosponsored by Finance Committee Chairman Senator Max Baucus (D-MT) and Ranking Member Senator Charles Grassley (R-IA), among others. A similar bill, sponsored by Reps. Mike Thompson (D-CA) and Don Young (R-AK), is currently under consideration in the House Ways and Means Committee (H.R. 1422). The bill passed the Finance Committee as part of a larger package, the Habitat and Land Conservation Act of 2007.
“Partnering with private landowners on wildlife conservation is absolutely critical,” said Defenders of Wildlife president Rodger Schlickeisen. “This legislation provides key incentives to enlist more landowners in this effort, which benefits people and endangered species alike. The Senate Finance Committee is to be congratulated for its foresight on this vital issue, and we look forward to continuing to work with the full Senate and the House to pass this important legislation.”
The bill includes four major tax incentive components: habitat protection easement credits, habitat restoration tax credits, deductions and market mechanisms. Landowners who place an easement on their property to further the recovery of threatened or endangered species would be eligible to receive a tax credit. The size of that tax credit would increase with the duration of the easement, with a permanent easement providing a credit equal to 100 percent of the difference between the value of the property before and after the establishment of the easement.
In addition, landowners who conduct habitat restoration projects on their land could receive tax credits of up to 100 percent of the restoration costs. Those who engage in actions recommended in recovery plans approved under the Endangered Species Act could deduct the cost of those actions. For those landowners who may not have the funds to undertake conservation measures themselves, or sufficient taxable income to take full advantage of the bill’s incentives, the bill contains a provision that allows partnerships to fund species conservation activities and receive the tax incentives.
“Whether going it alone or partnering with other landowners, this bill creates a potential market that should result in more conservation, particularly for farmers and ranchers who may be land-rich but cash-poor,” declared Schlickeisen.
“This bill provides essential financial tools to assist landowners in preserving and protecting endangered species on their land,” said Schlickeisen. “Most importantly, it backs up the government’s commitment to safeguard America’s most imperiled wildlife with money that will go directly to efforts to protect vulnerable species. Partnering with private landowners is often the most effective, cost-efficient and results-oriented way to protect our nation’s wildlife for future generations.”
Senate co-sponsors of the bill at press time included Mike Crapo (R-ID), Blanche Lincoln (D-AR), Max Baucus (D-MT), Joe Lieberman (I-CT), Ken Salazar (D-CO), Mark Pryor (D-AR), Ben Nelson(D-NE), Harry Reid (D-NV), Charles Grassley (R-IA), Wayne Allard (R-CO), Gordon Smith (R-OR), Bob Bennett (R-UT), Michael Enzi (R-WY), Larry Craig (R-ID), Thad Cochran (R-MS), Susan Collins (R-ME), Sam Brownback (R-KS), John Cornyn (R-TX), Dianne Feinstein (D-CA), Mel Martinez (R-FL), Jeff Sessions (R-AL), Olympia Snowe (R-ME) and Debbie Stabenow (D-MI).
For more information visit www.saveesa.org
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Defenders of Wildlife is a leading nonprofit conservation organization recognized as one of the nation's most progressive advocates for wildlife and its habitat. With more than 900,000 members and supporters, Defenders of Wildlife is an effective leader on endangered species issues.
