Political Quotes

“I ask unanimous consent that the text of the bill be printed in the Record. There being no objection, the text of the bill was ordered to be printed in the Record, as follows: S. 2436 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Charitable Conservation Easement Program Integrity Act of 2018''. SEC. 2. LIMITATION ON PARTNER'S DEDUCTION FOR QUALIFIED CONSERVATION CONTRIBUTIONS MADE BY PARTNERSHIP. (a) In General.--Section 170(h) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: ``(7) Limitation on partnership allocation of contributions.-- ``(A) In general.--In the case of any qualified conservation contributions of any partnership (whether directly or as a distributive share of such contributions of another partnership), no amount of such contributions may be taken into account under this section by any partner of such partnership as a distributive share of such contributions if the aggregate amount so taken into account by such partner for the taxable year would (but for this paragraph) exceed 2.5 times such partner's adjusted basis in such partnership (determined as of the close of such taxable year and without regard to such contributions).…”