Public Hearing Set on Georgia Conservation Tax Credit Program Rules

The Georgia Department of Natural Resources has scheduled a public hearing to solicit comment on proposed amendments to rules for the Georgia Conservation Tax Credit Program.

The hearing is set for 5:30-6:30 p.m. March 19 in the conference room at the Wildlife Resources Division’s Wildlife Resources Conservation Center, 2065 U.S. Highway 278 S.E., Social Circle, Ga. 30025. The Conservation Center is about four miles west of Rutledge and 1.5 miles northeast of the intersection of Interstate 20 and U.S. 278 (Exit 101).

The DNR is revising Rules 391-1-6-.01 through 391-1-6-.05 to address and incorporate changes made to the Conservation Tax Credit Program with the passage of House Bill 1274, which amended the conservation tax credit provided for in Code Section 48-7-29.12. The following changes were made by House Bill 1274 and are included in the rule revisions:

· Define fair market value by an appraisal that meets IRS requirements.

· Allow donations to the federal government to qualify.

· Allow bargain sales to qualify.

· Extend the carryover period from five to 10 years.

· Specify that partnerships are subject to a $1 million aggregate cap.

· Eligible conservation purposes will be defined by the department.

At the public hearing, anyone may present data, make a statement, comment or offer a viewpoint or argument either orally or in writing. Oral statements should be concise.

Written comments are also welcomed. To insure their inclusion in the department’s package for the Board of Natural Resources, written comments should be received by 5 p.m. April 10. Comments may be e-mailed to Kristina.Sorensen@dnr.state.ga.us or sent via regular mail addressed to: Kristina Sorensen, Conservation Tax Credit Program, 2065 U.S. Highway 278 S.E., Social Circle, Georgia 30025-4743.

Copies of the proposed Conservation Tax Credit Program rules are posted at http://glcp.ga.gov/ (select the “Georgia Tax Credits” tab) and www.georgiawildlife.com (click the “Conservation” tab). Written copies are available from Kristina Sorensen, Kristina.Sorensen@dnr.state.ga.us or by calling (770) 918-6411.

The proposed rules will be considered by the Board of Natural Resources at its meeting on April 29 in the DNR Board Room at 2 Martin Luther King Jr. Drive S.E., Suite 1252, East Tower, Atlanta, Ga. 30334. The meeting is open to the public.

The Georgia Conservation Tax Credit Program rules are proposed for adoption pursuant to authority contained in the Georgia Conservation Tax Credit Act (O.C.G.A. 48-7-29.12).

-----
www.georgiafrontpage.com
Georgia Front Page
www.fayettefrontpage.com
Fayette Front Page