Conservation easements; validity, termination. (SB499)

Introduced By

Sen. Bill Carrico (R-Grayson)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

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. Amends § 10.1-1010, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/09/2018Prefiled and ordered printed; offered 01/10/18 18101699D
01/09/2018Referred to Committee on Agriculture, Conservation and Natural Resources
01/18/2018Impact statement from DPB (SB499)
01/18/2018Continued to 2019 in Agriculture, Conservation and Natural Resources (12-Y 2-N) (see vote tally)
11/30/2018Left in Agriculture, Conservation and Natural Resources

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