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Foundation the difference between the fair-market value and the agricultural value of the land as determined by appraisal. The land could then be sold for development.
Vickery’s H.B. 997 would establish an 11 member Board of Trustees, including five farmer representatives, to run the Foundation.
The Bill would also establish in each county or city containing productive agricultural land, an Advisory Board to advise the local governing body on prime agricultural land deemed worthy of preservation.
To fund the Foundation, H. B. 998 provides an initial general fund appropriation of $2 million to begin the program. In addition. Vickery proposed that alternate funding sources be investigated, including:
—a tax levied on the subdivision of prime agricultural land,
—using local money from the roll-back taxes paid when land is taken out from under the existing Use-Taxation Program, —a tax upon the transfer of land which is benefited by
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