PRINTER'S NO. 3921
No. 2740 Session of 2000
INTRODUCED BY BUNT, GODSHALL, FICHTER, HENNESSEY, HERSHEY,
McILHINNEY, LEH, ROSS, SCHRODER, ADOLPH, ARGALL, BARRAR,
CAPPABIANCA, CORRIGAN, DeWEESE, FEESE, FREEMAN, GEIST,
GRUCELA, HERMAN, HESS, JAMES, KREBS, MANN, MASLAND, PETRARCA,
PHILLIPS, PLATTS, SAYLOR, SHANER, SOLOBAY, STEIL, TANGRETTI,
TRICH, WANSACZ, WILT, WRIGHT AND ZIMMERMAN,
SEPTEMBER 26, 2000
REFERRED TO COMMITTEE ON AGRICULTURE AND RURAL AFFAIRS,
SEPTEMBER 26, 2000
AN ACT
1 Amending the act of June 30, 1981 (P.L.128, No.43), entitled "An
2 act authorizing the creation of agricultural areas," further
3 providing for purchase of agricultural easements.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. Section 14.1(g) of the act of June 30, 1981
7 (P.L.128, No.43), known as the Agricultural Area Security Law,
8 amended November 23, 1994 (P.L.621, No.96) and November 23, 1994
9 (P.L.648, No.100), is amended to read:
10 Section 14.1. Purchase of agricultural conservation easements.
11 * * *
12 (g) Purchase price.--The price paid for purchase of an
13 agricultural conservation easement in perpetuity shall not
14 exceed the difference between the nonagricultural value and the
15 agricultural value determined pursuant to subsection (f) at the
1 time of purchase, unless the difference is less than the State
2 or county boards' original appraised value in which case the
3 State or county boards' original easement value may be offered.
4 [However, under no circumstances shall the price paid for
5 purchase of an agricultural conservation easement in perpetuity
6 exceed $10,000 per acre of State funds.] The purchase price may
7 be paid in a lump sum, in installments over a period of years,
8 or in any other lawful manner of payment. If payment is to be
9 made in installments or another deferred method, the person
10 selling the easement may receive, in addition to the selling
11 price, interest in an amount or at a rate set forth in the
12 agreement of purchase, and final payment of all State money
13 shall be made within, and no later than, five years from the
14 date the agricultural conservation easement purchase agreement
15 was fully executed. The county may provide for payments on an
16 installment or other deferred basis and for interest payments by
17 investing its allocation of State money for purchases approved
18 by the State board under subsection (h)(11) in securities
19 deposited into an irrevocable escrow account or in another
20 manner provided by law.
21 * * *
22 Section 2. This act shall take effect in 60 days.
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