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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 | history

SUMMARY AS PASSED:

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.

SUMMARY AS PASSED HOUSE:

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.

SUMMARY AS INTRODUCED:

Open-Space Lands Preservation Trust Fund. Allows grants from the Fund to be made to aid localities in acquiring conservation 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.