The bill amends the existing legislation regarding the Burrillville Land Trust, changing its name to the Burrillville Land Conservancy. This change is reflected throughout the text, where all instances of "Trust" are replaced with "Conservancy." The bill maintains the authority of the Town Council of Burrillville to establish the Conservancy as a public instrumentality responsible for acquiring, holding, and managing various types of real property, including open space, agricultural land, and recreational areas. The mission of the Conservancy is to protect the town's rural character and natural heritage through land preservation and public access to these resources.

Additionally, the bill outlines the governance structure of the Conservancy, specifying that its members must be electors of Burrillville and that no elected official may serve as a member. It establishes the process for the management, administration, and organization of the Conservancy, which shall be by ordinance duly adopted by the Town Council. The rules and regulations governing the conduct of Conservancy affairs must be adopted by its members and approved by the Town Council. The Conservancy is granted various powers, including the ability to acquire property, enter into agreements, accept grants, and manage land for public use.

The bill also ensures that the Conservancy's assets are exempt from taxation and outlines the procedures for the dissolution of the Conservancy, ensuring that any remaining properties are managed in accordance with the original purposes of the Conservancy.