SB 2387

Creates the Agricultural Land Conservation Act. Makes findings. Defines terms. Provides that, beginning January 1, 2026, a Farmland Conversion Fee shall be paid by the buyer or lessee in a transaction for any agricultural land that will be removed from production for the specific purpose to develop solar farms, wind farms, industrial parks, commercial areas, single and multiple family dwellings, or any other use that removes agricultural land from production, with certain requirements, of between $700 and $900 per acre, according to the amount of acres. Provides for certain exemptions. Provides for remittance to and collection by the Department of Revenue, with rulemaking required. Creates the Farmland Conversion Fee Fund as a special fund in the State treasury, with certain requirements. Provides that certain amounts must be expended from the Fund for certain purposes. Provides that all State real property being used in the commercial production of agricultural commodities shall use an established metric for the purpose of advancing adoption of conservation practices, with certain requirements. Effective immediately.