text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Complete America's Great Trails 
  Act''.
  
  SEC. 2. NATIONAL SCENIC TRAIL CONSERVATION CREDIT.
  
      (a) In General.--Subpart B of part IV of subchapter A of chapter 1 
  of the Internal Revenue Code of 1986 is amended by adding at the end 
  the following new section:
  
  ``SEC. 30E. NATIONAL SCENIC TRAIL CONSERVATION CREDIT.
  
      ``(a) Allowance of Credit.--There shall be allowed as a credit 
  against the tax imposed by this chapter for the taxable year an amount 
  equal to the fair market value of any National Scenic Trail 
  conservation contribution of the taxpayer for the taxable year.
      ``(b) National Scenic Trail Conservation Contribution.--For 
  purposes of this section--
              ``(1) In general.--The term `National Scenic Trail 
          conservation contribution' means any qualified conservation 
          contribution--
                      ``(A) to the extent the qualified real property 
                  interest with respect to such contribution includes a 
                  National Scenic Trail (or portion thereof) and its 
                  trail corridor, and
                      ``(B) with respect to which the taxpayer makes an 
                  election under this section.
              ``(2) National scenic trail.--The term `National Scenic 
          Trail' means any trail authorized and designated under section 
          5 of the National Trails System Act (16 U.S.C. 1244), but only 
          if such trail is at least 200 miles in length.
              ``(3) Trail corridor.--
                      ``(A) In general.--The term `trail corridor' means 
                  so much of the corridor of a trail as is--
                              ``(i) subject to subparagraph (B), not less 
                          than 150 feet wide on each side of such trail, 
                          and
                              ``(ii) not greater than 2,640 feet wide.
                      ``(B) Exceptions.--
                              ``(i) Less than 150 feet wide on a side of 
                          the trail.--In the case of an interest in real 
                          property of the taxpayer which includes less 
                          than 150 feet on either side of the trail, the 
                          trail corridor shall include the entire 
                          distance with respect to such interest on such 
                          side.
                              ``(ii) Building and structures near the 
                          trail.--In the case of an interest in real 
                          property of the taxpayer which includes a 
                          residence or structure owned by the taxpayer 
                          which is located less than 150 feet from the 
                          trail, the trail corridor for the side of the 
                          trail on which the residence or structure is 
                          located shall include such distance from the 
                          trail as is determined appropriate by the 
                          taxpayer.
              ``(4) Qualified conservation contribution; qualified real 
          property interest.--The terms `qualified conservation 
          contribution' and `qualified real property interest' have the 
          respective meanings given such terms by section 170(h), except 
          that paragraph (2)(A) thereof shall be applied without regard 
          to any qualified mineral interest (as defined in paragraph (6) 
          thereof).
      ``(c) Special Rules.--
              ``(1) Fair market value.--Fair market value of any National 
          Scenic Trail conservation contribution shall be determined in 
          the same manner as qualified conservation contributions under 
          section 170, except that in any case, to the extent 
          practicable, fair market value shall be determined by reference 
          to the highest and best use of the real property with respect 
          to such contribution.
              ``(2) Election irrevocable.--An election under this section 
          may not be revoked.
              ``(3) Denial of double benefit.--No deduction shall be 
          allowed under this chapter with respect to any qualified 
          conservation contribution with respect to which an election is 
          made under this section.
      ``(d) Application With Other Credits.--
              ``(1) Business credit treated as part of general business 
          credit.--So much of the credit which would be allowed under 
          subsection (a) for any taxable year (determined without regard 
          to this subsection) that is attributable to property used in a 
          trade or business or held for the production of income shall be 
          treated as a credit listed in section 38(b) for such taxable 
          year (and not allowed under subsection (a)).
              ``(2) Personal credit.--For purposes of this title, the 
          credit allowed under subsection (a) for any taxable year 
          (determined after the application of paragraph (1)) shall be 
          treated as a credit allowable under subpart A for such taxable 
          year.
      ``(e) Carryforward of Unused Credit.--
              ``(1) In general.--If the credit allowable under subsection 
          (a) exceeds--
                      ``(A) the limitation imposed by section 26(a) for 
                  any taxable year, reduced by
                      ``(B) the sum of the credits allowable under 
                  subpart A (other than this section) for the taxable 
                  year,
          such excess shall be carried to the succeeding taxable year and 
          added to the credit allowable under subsection (a) for such 
          succeeding taxable year.
              ``(2) Limitation.--No credit may be carried forward under 
          this subsection to any taxable year following the tenth taxable 
          year after the taxable year in which the credit arose. For 
          purposes of the preceding sentence, credits shall be treated as 
          used on a first-in first-out basis.''.
      (b) Continued Use Not Inconsistent With Conservation Purposes.--A 
  contribution of an interest in real property shall not fail to be 
  treated as a National Scenic Trail conservation contribution (as 
  defined in section 30E(b) of the Internal Revenue Code of 1986) solely 
  by reason of continued use of the real property, such as for 
  recreational or agricultural use (including motor vehicle use related 
  thereto), if, under the circumstances, such use does not impair 
  significant conservation interests and is not inconsistent with the 
  purposes of the National Trails System Act (16 U.S.C. 1241 et seq.).
      (c) Study Regarding Efficacy of National Scenic Trail Conservation 
  Credit.--
              (1) In general.--The Secretary of the Interior shall, in 
          consultation with the Secretary of the Treasury, study--
                      (A) the efficacy of the National Scenic Trail 
                  conservation credit under section 30E of the Internal 
                  Revenue Code of 1986 in completing, extending, and 
                  increasing the number of National Scenic Trails (as 
                  defined in section 30E(b) of such Code), and
                      (B) the feasibility and estimated costs and 
                  benefits of--
                              (i) making such credit refundable (in whole 
                          or in part), and
                              (ii) allowing transfer of such credit.
              (2) Report.--Not later than 4 years after the date of the 
          enactment of this Act, the Secretary of the Interior shall 
          submit a report to Congress on the results of the study 
          conducted under this subsection.
      (d) Conforming Amendment.--The table of sections for subpart B of 
  part IV of subchapter A of chapter 1 of such Code is amended by adding 
  at the end the following new item:
  
  ``30E. National Scenic Trail conservation credit.''.
      (e) Effective Date.--The amendments made by this section shall 
  apply to contributions made after the date of the enactment of this 
  Act.
target: Complete America's Great Trails Act This bill amends the Internal Revenue Code to allow a tax credit for the fair market value of any National Scenic Trail conservation contribution. The Department of the Interior must study and report on&nbsp;the efficacy of such tax credit in completing, extending, and increasing the number of National Scenic Trails and the feasibility and cost of making such credit refundable and transferable. 
feat_title: Complete America’s Great Trails Act