Bill No.: SF0149                  Drafter:  MRW

 

LSO No.:  05LSO-0435              Effective Date:  7/1/2005

 

Enrolled Act No.:  SEA0066

 

Chapter No.:       127

 

Prime Sponsor:     Senator Nicholas

 

Catch Title:       Conservation easements.

 

Subject:  Creates the Uniform Conservation Easement Act.

 

Summary/Major Elements:

 

·        Provides for the creation, conveyance, acceptance and duration of a conservation easement.

 

·        Provides for judicial action, modification and termination of a conservation easement.

 

·        Provides for conservation easements to be subject to the state's power of eminent domain.

 

·        Establishes the property assessment value of the conservation easement to be not less than the amount of ad valorem tax for the property to be levied and assessed based upon the  taxable value of agricultural land of similar productive use and value.