In May of this year, I documented an increase in tax sheltering activity that should trouble anyone dedicated to conservation: tax-shelter promoters and some landowners are abusing a tax deduction intended to encourage land conservation. The most recently available IRS data shows that total deductions for conservation easement contributions by taxpayers tripled between 2012 and 2014 — rising from $971 million in 2012 to $1.1 billion in 2013 to $3.2 billion in 2014.

But there’s reason to believe revenue losses were even higher in 2015 and 2016, which not only puts the integrity of the provision at risk — it undermines and endangers the efforts of environmental advocates.

Environmental advocates and conservationists have an opportunity to reclaim this benefit and ensure it remains a tool for conservation going forward, but that will require advocating for firmer rules and stronger enforcement for appraisals, a stronger focus on what constitutes conservation and how to promote conservation value, and greater transparency and accountability over these transactions from both donors, appraisers, and land trusts.

Read the full article about the rising cost of the syndicated conservation easement by Adam Looney at Brookings.