§60. Definitions
As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.
[PL 2007, c. 301, §1 (NEW).]
1.
Farm support arrangement.
"Farm support arrangement" means an arrangement that meets requirements established by the department by rule under which:
A.
The owner of qualified farmland grants to a municipality a qualified easement; and
[PL 2007, c. 301, §1 (NEW).]
B.
The municipality obligates itself to make farm support payments.
[PL 2007, c. 301, §1 (NEW).]
[PL 2007, c. 301, §1 (NEW).]
2.
Farm support payments.
"Farm support payments" means annual payments by a municipality during the term of a qualified easement:
A.
In an amount up to 100% of the annual property taxes assessed by that municipality against land and buildings subject to a qualified easement up to the fair market value of the easement; and
[PL 2007, c. 693, §1 (AMD).]
B.
To the person against whom the property taxes are assessed.
[PL 2007, c. 301, §1 (NEW).]
[PL 2007, c. 693, §1 (AMD).]
3.
Qualified easement.
"Qualified easement" means an agricultural conservation easement held by a municipality on qualified farmland in that municipality that:
A.
Meets standards adopted by rule by the department designed to ensure that no development other than development related to agricultural use occurs on the qualified farmland; and
[PL 2007, c. 301, §1 (NEW).]
B.
Is limited to a term of not less than 20 years.
[PL 2007, c. 301, §1 (NEW).]
[PL 2007, c. 301, §1 (NEW).]
4.
Qualified farmland.
"Qualified farmland" means farmland that meets eligibility requirements established by the department by rule.
[PL 2007, c. 301, §1 (NEW).]
SECTION HISTORY
PL 2007, c. 301, §1 (NEW). PL 2007, c. 693, §1 (AMD).