A bill that encourages land conservation awaits the governor’s signature. It would allow landowners to sell their tax credit to companies.
Currently, people can get an up to quarter of million dollar tax break for preserving a forest or farmland on their property. For businesses it’s up to a half a million dollars.
But many of them can’t fully take advantage of the credit says Will Windgage with the Georgia Conservancy, so lawmakers passed a measure that lets them transfer it.
"What the transferability provision that just passed would allow is for a small family or farmer who does not have the Georgia tax liablity, he or she could sell this credit on the open market to someone who does," says Windgate," and actually receive some money for the purchase of that tax credit."
Windgate says the credit is a cheap way for the government to keep land preserved without having to buy it.
In the past four years, Georgians have claimed about 30 million dollars in tax credits which has preserved over 100,000 acres of land.