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2000 SESSION

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HB 1324 Open-Space Lands Preservation Trust Fund.

Introduced by: David B. Albo | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Open-Space Lands Preservation Trust Fund. Allows grants from the Fund to be made to aid localities in acquiring open-space easements. Currently, grants may only be made to persons conveying conservation easements to the Virginia Outdoors Foundation and a local co-holder. The bill also allows up to $100,000 per year of any interest generated by the Fund to be used for the Foundation’s administrative expenses, removes the requirement that interests in open-space lands acquired by public bodies must be located in urban areas, and adds a definition of “open-space easement.” The definition of open-space easement is identical to the Code’s current definition of conservation easement, except that an open-space easements may be held by government entities, while conservation easements are held by private charitable entities.


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