RELATING TO AGRICULTURE.
What changed between versions
The effective date was changed from July 1, 2025, to July 1, 2050, and program implementation was delayed to January 1, 2026.
Added specific provisions allowing lease terms of up to 99 years or shorter durations (20-30 years) to support new farmers, along with rules for transferring housing equity when leases end.
Established a new 11-member advisory committee including representatives from the Department of Land and Natural Resources, housing finance, county planning, community land trusts, and farmer advocacy groups.
The tax credit rules were changed to cap the total credit per year and limit the carryforward period to five years instead of indefinitely.
The specific dollar amount appropriated for the program was removed and replaced with a blank line, indicating the amount needs to be determined.
The program definition was updated to explicitly include 'families' in addition to individuals engaged in bona fide agricultural activities.