This bill introduces significant restrictions on the eligibility for current use property tax assessments, focusing on parcel size, zoning classifications, and sustainability criteria. Under the new provisions, individuals or entities can only enroll one lot in current use, with maximum area limits set at 40 acres for semi-rural zones and 10 acres for developed or high-density zones, contingent upon proximity to conservation land. Municipalities are also limited in their approval of current use assessments, with caps of 75% for rural zones, 20% for semi-rural zones, 10% for suburban zones, and 5% for high-density zones.

Additionally, the bill establishes stringent qualifications for agricultural and forestry operations to qualify for current use, emphasizing sustainable management practices and prohibiting harmful agricultural methods. Violations of these provisions will result in retroactive tax liabilities, requiring individuals or entities to pay deferred taxes based on the highest use rates from the last date of compliance. The act is set to take effect on January 1, 2027.