RELATING TO AGRICULTURAL LAND CONVEYANCE TAX.

SB 247 would add a surcharge to the existing conveyance tax on the profit (net capital gain) when agricultural land is sold or transferred. This bill directly affects owners who sell agricultural land, as they would pay an additional fee based on the sale profit. The key provision requires calculating the surcharge using the net capital gain from the land transfer, separate from the standard conveyance tax. The bill is currently pending in committee review for the 2026 legislative session.