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Committee releases bill to offer tax deduction for private land sold to conservation groups
New Jersey Senate Environment & Energy Committee · January 13, 2025
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Summary
S3287 would allow a state income tax deduction for sales of certain real-property interests to conservation organizations; Nature Conservancy testimony said the measure helps land trusts compete with private developers and was released unanimously with a technical amendment.
Senate bill S3287 would provide a gross-income tax deduction for amounts paid when private landowners sell certain property interests for conservation. Rebecca Hobert (identified in testimony as external affairs associate, Nature Conservancy…
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