,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #ejai  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #ae1 #bjbj,mr4
 ,da9es 7= himself1 ,ms4 ,/ab5[1 ,mr4   
,grassley1 & ,mr4 ,wyd57 introduc$ !    
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,f9ance  ,a ,,bill   
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to limit ! *>itable d$uction =    
c]ta9 qualifi$ cons]vation              
contributions4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,*>itable          
,cons]vation ,easem5t ,program          
,integrity ,act ( #bjbj4  #b4           
,limitation on d$uction = qualifi$      
cons]vation contributions made by       
pass-?r\gh entity  7a7 ,9 g5]al ,section
 #agj7;h7 ( ! ,int]nal ,rev5ue ,code (  
#aihf is am5d$ by add+ at ! end ! foll[+
 new p>agraph3  7#g7 ,limitation on     
d$uction = qualifi$ cons]vation         
contributions made by pass-?r\gh entity 
7,a7 ,9 g5]al ,9 ! case ( any qualifi$  
cons]vation contribution ( any p>tn]%ip 
7:e!r directly or z a di/ributive %>e ( 

su* contribution ( ano!r p>tn]%ip71 no  
am\nt ( su* contribution may be tak5    
into acc\nt "u ?is section by any p>tn] 
( su* p>tn]%ip z a di/ributive %>e ( su*
 contribution if ! aggregate am\nt s    
tak5 into acc\nt by su* p>tn] = !       
taxable ye> w\ld 7b = ?is p>agraph7     
exce$ #b4e times ! portion ( ! adju/$   
basis ( su* p>tn]'s int]e/ 9 su*        
p>tn]%ip 7det]m9$ imm$iately be=e su*   
contribution & )\t reg>d to section     
#geb7 :i* is allocable 7"u rules simil> 
to ! rules ( section #gee7 to ! qualifi$
 real prop]ty int]e/ ) respect to :i*   
su* contribution is made4  7,b7         
,exception = contributions outside      
#c-ye> hold+ p]iod ,subp>agraph 7,a7    
%all n apply to a p>tn]'s di/ributive   
%>e ( a qualifi$ cons]vation            
contribution if su* contribution is     
made-- 7i7 at lea/ #c ye>s aft] ! date !
 p>tn]%ip acquir$ ! entirety ( !        
qualifi$ real prop]ty int]e/ ) respect  
to :i* su* contribution is made1  7ii7  
at lea/ #c ye>s aft] ! date ! p>tn]     

acquir$ ! p>tn]'s entire int]e/ 9 !     
p>tn]%ip ) respect to :i* su*           
di/ributive %>e is det]m9$1 &  7iii7 if 
! int]e/ 9 ! p>tn]%ip mak+ su*          
contribution is held ?r\gh #a or m      
p>tn]%ips1 at lea/ #c ye>s aft] ea* su* 
p>tn]%ip acquir$ ! entirety ( ! int]e/ 9
 any su* p>tn]%ip ) respect to :i* su*  
di/ributive %>e is det]m9$4  7,c7       
,exception = family p>tn]%ips           
,subp>agraph 7,a7 %all n apply ) respect
 to any qualifi$ cons]vation            
contribution made by any p>tn]%ip if    
sub/antially all ( ! p>tn]%ip int]e/s 9 
su* p>tn]%ip are held1 directly or      
indirectly1 by individuals :o are memb]s
 ( ! same family 7)9 ! mean+ ( section  
#ebi7;e77#b774  7,d7 ,application to o!r
 pass-?r\gh entities ,except z may be   
o!rwise provid$ by ! ,secret>y1 ! rules 
( ?is p>agraph %all apply to ,s         
corporations & o!r pass-?r\gh entities 9
 ! same mann] z su* rules apply to      
p>tn]%ips4  7,e7 ,regulations ,!        
,secret>y %all prescribe su* regulations

 or o!r guidance z may be necess>y to   
c>ry out1 & prev5t ! avoidance (1 !     
purposes ( ?is p>agraph1 includ+1 9 !   
case ( ti]$ p>tn]%ips1 su* report+ to ! 
,secret>y & among su* p>tn]%ips z !     
,secret>y det]m9es appropriate4  4  7b7 
,effective date  7#a7 ,9 g5]al ,except z
 provid$ 9 p>agraph 7#b71 ! am5dm5t made
 by ?is section %all apply to           
contributions made 9 taxable ye>s end+  
aft] ,decemb] #bc1 #bjaf4  7#b7 ,c]tifi$
 hi/oric /ructures ,9 ! case (          
contributions ! cons]vation purpose 7z  
def9$ 9 section #agj7;h77#d7 ( !        
,int]nal ,rev5ue ,code ( #aihf7 ( :i* is
 ! pres]vation ( a c]tifi$ hi/oric      
/ructure 7z def9$ 9 section             
#agj7;h77#d77;,c7 ( su* ,code71 !       
am5dm5t made by ?is section %all apply  
to contributions made 9 taxable ye>s    
beg9n+ aft] ,decemb] #ca1 #bjah4  7#c7  
,no inf]5ce ,no inf]5ce is int5d$ z to !
 appropriate treatm5t ( contributions   
made 9 taxable ye>s end+ on or be=e !   
date specifi$ 9 p>agraph 7#a7 or 7#b71  

:i*ev] is applicable1 or z to any       
activity n describ$ 9 section           
#agj7;h77#g7 ( ! ,int]nal ,rev5ue ,code 
( #aihf1 z add$ by ?is section4