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Report claims Virginia pays for low-quality conservation easements


ALLISON BROPHY CHAMPION
Culpeper Star-Exponent
The Office of the State Inspector General says Virginia’s land-conservation easement program, in which properties receive tax breaks, needs work.
One in three recent inspections of conservation easement found that monitoring by a land-trust company was inadequate, the office said in a statement last week.
After a yearlong audit of the state’s Conservation Easement and Land Preservation Tax Credit Program, the office concluded that Virginia needs to improve the conservation quality it receives for tax credits.
OSIG auditors found trash, old tires, scrap metal piles, old campers, inoperable vehicles and a manure storage area containing dead-cattle parts on properties in easement it inspected, the agency said. ....

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Why Biden's Infrastructure Plan Shouldn't Use Tax Credits to Encourage Clean Energy


Why Is Wall Street Profiting From Clean Energy Tax Credits?
Tax credits don’t give people money for solar panels and wind turbines up front. That’s where investors come in.
GABRIEL BOUYS/AFP/Getty Images
An early example of a wind farm, in 2006
Since they were first introduced in the 1970s, tax credits for renewables have helped scale up and dramatically reduce the cost of clean power in the United States. But in recent years they have also created opportunities for a small handful of major investment banks to skim billions off the top, extracting lavish fees and control over clean energy projects as part of deals shrouded in secrecy. Public power providers who serve nearly a third of retail electricity customers have trouble accessing clean energy tax credits at all.  ....

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Our View: Extend tax credits, continue preserving Minnesota's history


Our View: Extend tax credits, continue preserving Minnesota s history
The debate in St. Paul hasn’t been over whether to extend the tax credits program but for how long
Written By:
News Tribune Editorial Board |
11:00 am, May 12, 2021
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The NorShor Theatre is one of at least 10 historic preservation projects that used state historic tax credits. (2018 file/News Tribune)
The very future of Duluth’s iconic and majestic Historic Old Central High School may depend right now on the same financial boost that at least 10 other historic properties in the city have received since 2010 before they all were restored and saved.
Minnesota’s Historic Rehabilitation Tax Credit is helping to protect our past and uphold our heritage, one restored old building at a time. The tax credit often provides the funding boost a project needs to become a reality. In its 10 years, the program has helped developers invest $1.9 billion in the state ....

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