Charitable Deductions for Qualified Conservation Contributions - Conformity Public Service bulletin

April 28, 2025

Purpose of Bulletin

To provide the public with details of the changes enacted under SB 167, Sections 21, 22, 29, 30, and 35.

Background

Senate Bill (SB) 167, Sections 21, 22, 29, 30, and 35: Conformity to Provisions Related to Charitable Deductions for Qualified Conservation Contributions

For contributions made on or after January 1, 2024, Sections 21, 22, 30 and 35, under the Personal Income Tax Law and the Corporate Tax Law provide conformity, with modifications, to the federal charitable contribution deduction rules for qualified conservation contributions made by partnerships and other pass-through entities.

For returns filed on or after January 1,2024, Section 29, under the Administration of Franchise and Income Tax Law, provides conformity to federal law by imposing a 40 percent Accuracy Related Penalty on qualified conservation contribution deductions disallowed under these rules. The extended statute of limitations for assessments applicable to abusive tax avoidance transactions applies to deficiency assessments disallowing qualified conservation contribution deductions under these rules.

Additional Information

For additional information about SB 167 review provision 6 of SB 167 Bill Summary and the SB 167 Bill Text.