Conn. Gen. Stat. § 12-217ff
This is the official text of Conn. Gen. Stat. § 12-217ff, part of Connecticut’s Gen. Stat — part of the compiled statutory law of Connecticut, published by the state as "Gen. Stat." Browse the sections below, each linked to its official government source.
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Sec. 12-217ff. Tax credit for donation of land for educational use. No credit allowed on or after January 1, 2013.
Official statutory text
(b) There shall be allowed a credit for all taxpayers against the tax imposed under section 12-217 , in an amount equal to fifty per cent of any donation of land for educational use. For purposes of calculating the credit under this section the amount of donation shall be based on the difference between the use value of the donated land and the amount received for such land. For the purposes of this subsection, “use value” means a fair market value of land at its highest and best use, as determined by a certified real estate appraiser.
(c) A credit that is allowed under this section, with respect to any taxable year commencing on or after January 1, 2004, but is not used by a taxpayer may be carried forward to each of the successive income years until such credit is fully taken. In no case shall a credit that is not used be carried forward for a period of more than fifteen years.
(d) No tax credit shall be allowed under this section with respect to any donation of land for educational use made on or after January 1, 2013.
See Sec. 12-217dd re tax credit for donation of land for educational use.
(c) A credit that is allowed under this section, with respect to any taxable year commencing on or after January 1, 2004, but is not used by a taxpayer may be carried forward to each of the successive income years until such credit is fully taken. In no case shall a credit that is not used be carried forward for a period of more than fifteen years.
(d) No tax credit shall be allowed under this section with respect to any donation of land for educational use made on or after January 1, 2013.
See Sec. 12-217dd re tax credit for donation of land for educational use.
Status: in_force · Read it on the official government site
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