Public Lands Acquisition Alternatives Act of 1983

Summary

Public Lands Acquisition Alternatives Act of 1983 - Amends the Internal Revenue Code to increase from 30 to 50 percent of adjusted gross income the ceiling for charitable contributions of capital gain property for conservation purposes. Treats a gift to a governmental entity to preserve open space as a contribution for conservation purposes. Repeals the restriction on surface mining on lands contributed for conservation purposes. Allows a charitable contribution deduction for the contribution of real property for conservation purposes with the retention of a mineral interest. Allows a credit against the estate tax for conservation contributions to the United States. Permits an estate tax deduction for the unused income tax deduction for contributions of conservation property. Provides for the nonrecognition of gain from the sale of real property to certain tax-exempt organizations other than the United States, exclusively for conservation purposes, if the taxpayer purchases investment property within three years of the sale. Increases to 70 percent the deduction for gain from the sale of property to a conservation organization.

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1 official file

• Introduced in Senate

  summary · EN · 25 July 1983

  Open at official source

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