This bill modifies provisions applicable to the purchase of property for transportation corridor preservation. Specifically, the bill impacts a governmental entity's purchase of "Greenbelt property" for corridor preservation and the property owner's payment of the rollback tax and eligibility under the Relocation Assistance Act. 

 

Should a property owner voluntarily sell a greenbelt property to a governmental entity the owner is required to pay rollback tax and is not eligible to receive relocation assistance

Should the governmental entity acquire the greenbelt property through eminent domain or under threat or imminence of eminent domain proceedings, the property owner is not required to pay rollback tax and may be eligible for relocation assistance. 

The governmental entity is required to provide notice to the property owner of the applicability of the rollback tax and property owner's eligibility or ineligibility for relocation assistance depending upon the circumstances under which the property is acquired.