- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedApril 2nd, 2009
- house Committees
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Open Space Preservation Promotion Act of 2009
To amend the Internal Revenue Code of 1986 to clarify that installment sales treatment shall not fail to apply to property acquired for conservation purposes by a State or local government or certain tax-exempt organizations merely because purchase funds are held in a sinking or similar fund pursuant to State law.
Open Space Preservation Promotion Act of 2009- Amends the Internal Revenue Code to allow installment sales treatment for land sold to a governmental unit or tax-exempt charitable organization for conservation purposes even though the purchase funds for such sale are held in a sinking or similar fund, as required by state law.