Provides an election to resolve certain open partnership controversies involving donations of conservation easements.

The bill allows partnerships to make an election to resolve certain open controversies involving donations of conservation easements. The election allows the partnership to resolve the issue by paying a settlement amount, which is the sum of the tax component and the penalty component. The tax component is the excess of the claimed deduction over the settlement limitation amount, and the penalty component is 25% of the tax component.

Provides an election to resolve certain open partnership controversies involving donations of conservation easements.

The bill allows partnerships to make an election to resolve certain open controversies involving donations of conservation easements. The election allows the partnership to resolve the issue by paying a settlement amount, which is the sum of the tax component and the penalty component. The tax component is the excess of the claimed deduction over the settlement limitation amount, and the penalty component is 25% of the tax component.