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2007 Laws of Maryland
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Ch. 18
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14- 111.
(b) A trustee may donate a conservation easement on any real property, or
consent to the donation of a conservation easement on any real property by a personal
representative of an estate of which the trustee is a legatee, in order to obtain the
benefit of the estate tax exclusion allowed under § 2031(c) of the United States
Internal Revenue Code of 1986, as amended, if:
(1) The governing instrument AUTHORIZES OR directs the donation of
a conservation easement on the real property; or
(2) Each beneficiary who has an interest in the real property that
would be affected by the conservation easement consents in writing to the donation.
15- 102.
(aa) A fiduciary may donate a conservation easement on any real property, or
consent to the donation of a conservation easement on any real property by a personal
representative of an estate of which the fiduciary is a legatee, in order to obtain the
benefit of the estate tax exclusion allowed under § 2031(c) of the United States
Internal Revenue Code of 1986, as amended, if:
(1) The governing instrument AUTHORIZES OR directs the donation of
a conservation easement on the real property; or
(2) Each beneficiary who has an interest in the real property that
would be affected by the conservation easement consents in writing to the donation.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall be
construed to apply retroactively and shall be applied to and interpreted to apply to the
donation of a conservation easement from an estate of a decedent who died on or after
January 1, 1998.
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2007.
Approved by the Governor, April 10, 2007.
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- 746 -
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