PUBLIC LAW 109–280—AUG. 17, 2006
120 STAT. 1075
(A) in paragraph (1), by striking ‘‘10 percent’’ and inserting ‘‘20 percent’’, and 1⁄2 percent’’ and (B) in paragraph (2), by striking ‘‘2 inserting ‘‘5 percent’’. (2) INCREASED LIMITATION FOR MANAGERS.—Section 4945(c)(2) is amended— (A) by striking ‘‘$5,000,’’ and inserting ‘‘$10,000,’’, and (B) by striking ‘‘$10,000.’’ and inserting ‘‘$20,000.’’. (f) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
26 USC 4945.
26 USC 4941 note.
SEC. 1213. REFORM OF CHARITABLE CONTRIBUTIONS OF CERTAIN EASEMENTS IN REGISTERED HISTORIC DISTRICTS AND REDUCED DEDUCTION FOR PORTION OF QUALIFIED CONSERVATION CONTRIBUTION ATTRIBUTABLE TO REHABILITATION CREDIT.
(a) SPECIAL RULES WITH RESPECT TO BUILDINGS IN REGISTERED HISTORIC DISTRICTS.— (1) IN GENERAL.—Paragraph (4) of section 170(h) (relating to definition of conservation purpose) is amended by redesignating subparagraph (B) as subparagraph (C) and by inserting after subparagraph (A) the following new subparagraph: ‘‘(B) SPECIAL RULES WITH RESPECT TO BUILDINGS IN REGISTERED HISTORIC DISTRICTS.—In the case of any contribution of a qualified real property interest which is a restriction with respect to the exterior of a building described in subparagraph (C)(ii), such contribution shall not be considered to be exclusively for conservation purposes unless— ‘‘(i) such interest— ‘‘(I) includes a restriction which preserves the entire exterior of the building (including the front, sides, rear, and height of the building), and ‘‘(II) prohibits any change in the exterior of the building which is inconsistent with the historical character of such exterior, ‘‘(ii) the donor and donee enter into a written agreement certifying, under penalty of perjury, that the donee— ‘‘(I) is a qualified organization (as defined in paragraph (3)) with a purpose of environmental protection, land conservation, open space preservation, or historic preservation, and ‘‘(II) has the resources to manage and enforce the restriction and a commitment to do so, and ‘‘(iii) in the case of any contribution made in a taxable year beginning after the date of the enactment of this subparagraph, the taxpayer includes with the taxpayer’s return for the taxable year of the contribution— ‘‘(I) a qualified appraisal (within the meaning of subsection (f)(11)(E)) of the qualified property interest, ‘‘(II) photographs of the entire exterior of the building, and
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