Section 1 Short title
This Act may be cited as the “American Conservation Empowerment Act of 2013”.
American Conservation Empowerment Act of 2013
A BILL
To amend the Internal Revenue Code of 1986 to allow taxpayers to assign to another taxpayer the amount of the unused charitable deduction for qualified conservation contributions.
Sec. 2 Authority to assign unused charitable deduction for qualified conservation contributions
In general— Subsection (d) of section 170 of the Internal Revenue Code of 1986 (relating to carryover of excess contributions) is amended by adding at the end the following new paragraph:
“(3) Excess qualified contribution contributions
“(A) In general—Any amount of the excess qualified conservation contributions for any taxable year may be assigned by the taxpayer to any other person. 90 percent of the amount so assigned shall be treated as contributions made by such other person and not by the taxpayer, and the remainder of the amount so assigned shall not be treated as charitable contributions.
“(B) Excess conservation contributions—For purposes of this paragraph, the term excess conservation contributions means, with respect to any taxable year, the lesser of—
“(i) the amount which would, by reason of this subsection or any other provision of this section, be treated as a charitable contribution paid in a succeeding taxable year, over
“(ii) the qualified conservation contributions paid (or treated as paid) during the taxable year.”
Effective date— The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.