H. R. 338
IN THE HOUSE OF REPRESENTATIVES
January 13, 2015
Mr. Young of Alaska introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to encourage charitable contributions of real property for conservation purposes by Native Corporations.
Encouragement of contributions of capital gain real property made for conservation purposes by Native Corporations
Section 170(b)(2) of the Internal Revenue Code of 1986 is amended by redesignating subparagraph (C) as subparagraph (D), and by inserting after subparagraph (B) the following new subparagraph:
Qualified conservation contributions by certain Native Corporations
Any qualified conservation contribution (as defined in subsection (h)(1)) which—
is made by a Native Corporation, and
is a contribution of property which was land conveyed under the Alaska Native Claims Settlement Act,
If the aggregate amount of contributions described in clause (i) exceeds the limitation of clause (i), such excess shall be treated (in a manner consistent with the rules of subsection (d)(2)) as a charitable contribution to which clause (i) applies in each of the 15 succeeding years in order of time.
For purposes of clause (i), the term Native Corporation has the meaning given such term by section 3(m) of the Alaska Native Claims Settlement Act.
Valid existing rights preserved
Nothing in this provision shall be construed to modify the existing property rights validly conveyed to Native Corporations under the Alaska Native Claims Settlement Act.
Section 170(b)(2)(A) of such Code is amended by striking
subparagraph (B) applies and inserting
subparagraphs (B) or (C) apply.
The amendments made by this section shall apply to contributions made in taxable years beginning after December 31, 2014.