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2024 SESSION

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SB 465 Virginia Land Conservation Foundation; land trusts that have been accredited, etc.

Introduced by: David W. Marsden | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Land Conservation Foundation. Allows land trusts that have been accredited by the Land Trust Accreditation Commission or a similar set of standards and practices adopted by the Virginia Land Conservation Board of Trustees (the Board) to hold an interest in land other than a fee simple interest as a result of a grant or transfer from the Virginia Land Conservation Foundation (the Foundation) without a co-holder. Current law requires that certain interests in land as a result of a grant or transfer from the Foundation be held jointly by a holder and a public body. The bill also allows, whenever a holder acquires fee simple interest in land as a result of a grant or transfer from the Foundation, the Board to accept a reversionary interest in such land as an alternative to a public body holding an open space easement in such land.


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