SUMMARY:

            This bill amends 48-5-7.4 relating to the specific ownership of farms in the definition of “bona fide conservation use property.”

REQUIREMENTS:     

• This would change the requirement from a blood or marriage relative holding all the interest in the property to a controlling interest.  It clears up issues relating to multiple heirs of a farm that hold pieces of the land.
• It would eliminate references to partnership, corporations and LLC’s holding no more than 5% interest.

NOTES:

• This bill would tighten the eligibility of farm property for conservation land use.