New bill would increase tax credits for conservation easements
South Carolina currently offers income tax credits for individuals who place their property under a conservation easement, proportional to the acreage conserved. While this is an important incentive to encourage participation in land conservation, the credit hasn’t been updated in over 15 years.
Imagine our excitement when we saw that Representative Patrick Haddon (Greenville) introduced a bill (H.5062) that increases the tax credit from up to $250/acre to $1000/acre. It also raises the total credit an individual may use in any given tax year from $52,500 to $105,000. Thanks again to Representative Haddon for continuing to champion legislation that removes financial barriers to land conservation!
Endangered Species Data Protection Bill on the move
The Senate Fish, Game, and Forestry Committee passed the Endangered Species Data Protection Bill (H.4047), sending it to the full Senate for consideration next week. Restrictions on the public release of rare, threatened, endangered, or imperiled plant and animal species have been implemented in 23 states, according to the State Newspaper. New data protections could benefit plants experiencing pressure from poachers, like the Venus Fly Trap (Dionaea muscipula – named the state’s official carnivorous plant in 2023) and American Ginseng (Panax quinquefolius).
Ad hoc Committee advances new energy proposal
Throughout the past year, the House Economic Development and Utility Modernization Ad hoc Committee has met to identify challenges and solutions to meeting our state’s increasing energy demand, driven in large part by the influx of significant economic development projects over the past couple of years.
Last week, this Committee met twice to discuss the House’s answer to our energy challenges in the form of an omnibus-style energy proposal. We’re expecting the bill to be introduced this week, so stay tuned for an in-depth look at this legislation and how to talk to your lawmaker about it.
Until then, you can watch the hearings from last week here — scroll down to Wednesday, February 7 at 9 am and Thursday, February 8 — held one hour after adjournment.
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