Senate Panel Intensifies Its Conservancy Probe

[kskiska]

Monday, November 10, 2003; Page A01

A six-month inquiry into the Arlington-based Nature Conservancy by the Senate Finance Committee has raised "new questions in a wide range of areas," leading investigators to intensify their pursuit of internal audits and property records they have been seeking since last summer, according to committee Chairman Charles E. Grassley (R-Iowa).

Committee investigators, who have been looking into the charity's management and real estate sales, are now particularly interested in the "valuation of land donations and the conservation-buyer program," Grassley said. The charity uses that program to sell property to private individuals, including Conservancy members.

In a statement, Grassley said he is reserving judgment until the investigation is concluded, but added: "I expect it will become even more clear that reforms to existing law should accompany any new incentives for taxpayers to donate land for conservation." Grassley is sponsor of a bill backed by the Conservancy that passed the Senate earlier this year and which would provide hundreds of millions of dollars in new conservation tax breaks.

"The Conservancy always anticipated there would be additional questions," the charity said in a statement Friday. "Should the Committee identify reforms it feels are needed, the Conservancy stands ready to work with the Committee to design and implement them."

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http://www.washingtonpost.com/wp-dyn/articles/A20332-2003Nov9.html