§ 60

§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.

(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).