Revenue and taxation; bona fide conservation use property; permit combination of multiple covenants into a single, new, ten-year covenant

Added carbon sequestration as a secondary use option for property under conservation covenants, allowing land to qualify for tax assessment benefits if it participates in the Georgia Carbon Sequestration Registry.

Revised the definition of primary purpose for conservation use to include commercial wood production for conservation purposes rather than just financial gain.

Added provisions allowing forest land currently under conservation assessment to transition to current use assessment after ownership transfer, and vice versa, with specific termination rules for existing covenants.

Changed the effective date from January 1, 2026 to January 1, 2027, and clarified that the law applies to taxable years beginning on or after that date.