S.4087 - Endangered Species Recovery Act of 2006109th Congress (2005-2006)
Summary: S.4087 — 109th Congress (2005-2006)
Introduced in Senate (12/06/2006)
Endangered Species Recovery Act of 2006 - Amends the Internal Revenue Code to allow certain landowners whose property contains the habitat of an endangered or threatened species and who enter into a habitat protection agreement a tax credit for costs relating to habitat protection easements and restoration. Places limits on the amount of such credit for calendar years 2007, 2008, 2009, 2010, and 2011.
Allows a tax deduction for expenditures related to recovery plans approved by the Endangered Species Act of 1973.
Excludes from gross income certain payments under: (1) the Partners for Fish and Wildlife Program authorized by the Partners for Fish and Wildlife Act; and (2) the Landowner Incentive Program, the State Wildlife Grants Program, and the Private Stewardship Grants Program authorized by the Fish and Wildlife Act of 1956.