OPEN SPACE LANDS-GRANTS

Amends the State Finance Act. Deletes a provision providing that the State Comptroller shall direct and the State Treasurer shall transfer $1,000,000 from the Open Space Lands Acquisition and Development Fund to the Conservation 2000 Fund. Exempts monies in the Open Space Lands Acquisition and Development Fund and the Natural Areas Acquisition Fund from being transferred to the General Revenue Fund. Amends the Open Space Lands Acquisition and Development Act. Provides that the Department of Natural Resources shall make grants from specified funds to local governments as financial assistance, provided that 50% of each grant shall be paid within 60 days after its award and additional payments shall be made on a reimbursement basis, for specified projects. Provides that no more than one acquisition grant and 2 development grants shall be made to a single recipient during a fiscal year under the Act. Provides that a local government that the Department determines to be distressed is eligible for up to 90% State funding assistance if no more than 10% of the amount so appropriated in any fiscal year under this Act is made available for "distressed" local governments. Provides that maximum grant thresholds for acquisition and development must be increased in accordance with the Consumer Price Index-U on an annual basis. Defines "Consumer Price Index-U". Effective immediately.