RELATING TO AGRICULTURAL LAND CONVEYANCE TAX.

HB 929 would add a surcharge to the conveyance tax when agricultural land is sold, based on the seller's profit (net capital gain) from the transfer. This bill directly affects landowners who sell agricultural property, as they would pay an additional fee on the profit from the sale. The surcharge is calculated as a percentage of the net capital gain, increasing the tax burden specifically for these land transfers.