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SB499

Conservation easements; validity, termination.

Status:
In Senate

Chief Patron:
Bill Carrico (R)

Session:
2018 Regular Session

Summary

As Introduced. Agriculture easements; validity; termination.

Prohibits a restriction imposed by a conservation easement from being enforced against any occupied single-family dwelling structure, including any outbuilding, shed, barn, garage, or driveway, or the land lying immediately underneath any such structure, for the purposes of additions, repairs, or sale. The bill authorizes the owner of an interest in real property burdened by the easement to terminate such easement in the event of financial hardship. Such owner shall be liable to the Department of Taxation for the full amount of any land preservation tax credits claimed or transferred by the owner that are related to the easement and shall pay any legal fees associated with the termination of the easement. Until such payments are made, such conservation easement shall be considered perpetual in duration unless otherwise provided in the instrument creating it. (Less)

  • Bill History

  • 01/09/2018 - Senate: Prefiled and ordered printed; offered 01/10/18 18101699D
  • 01/09/2018 - Senate: Referred to Committee on Agriculture, Conservation and Natural Resources
  • 01/18/2018 - Senate: Impact statement from DPB (SB499)
  • 01/18/2018 - Senate: Continued to 2019 in Agriculture, Conservation and Natural Resources (12-Y 2-N)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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