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HR 0051 - Forest Land Conservation Valuation - Constitutional Amendment
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Tracking Level: Neutral
Sponsor: Jay Powell (R)
Last Action: 5/2/2018 - Effective Date
House Committee: Ways & Means
Senate Committee: Finance
Assigned To:
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Staff Analysis of the Legislation

 This enabling constitutional amendment removes from the constitution the existing method of valuation of forest land conservation use (also known as FLPA property), which is tied to 2008 fair market valuation. Instead, such valuations would be updated every three years. Additional FLPA grants over a four-year period would be available to offset local government funding losses as a result of this valuation change. Additionally, this constitutional amendment also would create commercial timberland property as a separate class of property, which in turn would allow for different assessment of such property. It also allows DOR to withhold an administrative fee from FLPA grants for purposes of administering this new assessment process.The constitutional amendment, if ratified by the voters, will be implemented by HB 85.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text

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