7.4.9 Conservation Incentives

LPDD Recommendation: “Through tax deductions and tax credits, the federal government could provide significant incentives to corpora­tions and private individuals who manage forestland to sequester carbon.”

LPDD Recommendation: “Congress and state legislatures should consider a modest carbon tax or GHG cap-and-trade program that recognizes private forest carbon capture as an emission offset, exempts emissions from sustainably produced biomass, and also imposes a tax burden on those who deforest their land through conversion.”

LPDD Recommendation: “Congress should impose a meaningful carbon tax (or auction) and create a CO2 trading regime in which seques­tration in forests, soils, and forest products is specifically recognized.”

LPDD Recommendation: “Through tax deductions and tax credits, state and local governments could provide significant incentives to corporations and private individuals who manage forestland to sequester carbon.”

Maine Tree Growth Tax Law

Property taxes for forest lands are based on the value of the land in its current use, rather than market value, resulting in tax savings for the landowner of forest.

IRS Conservation Contributions.

Qualified conservation contributions in the form of a donation of land or a conservation easement to a 501(c)(3) organization such as a land conservancy or a state or local government may be deducted from income taxes.

New Jersey RPS Sustainable Biomass Requirements

New Jersey’s Renewable Portfolio Standard requires a sustainability determination to qualify biomass among the technologies that will support the generation of renewable energy credits.

Oregon forestry offsets

Oregon permits the state forester to develop contracts with non-federal forest landowners to market, register, transfer or sell forest carbon offsets as a stewardship incentive.