This bill establishes a new method for the valuation of land under the farm and open space tax law. It extends eligibility for a reduced valuation to land managed under a carbon conservation management plan, which is a written agreement between the landowner and the Department of Agriculture, Conservation and Forestry that describes strategies to be used on a parcel of land at least 10 acres in size to increase carbon storage or improve carbon conservation. It removes the requirement that wildlife habitat land meet specific criteria to be eligible for a reduced valuation, such as being designated by the Department of Inland Fisheries and Wildlife as supporting important wildlife habitat or identified by the Department of Agriculture, Conservation and Forestry as supporting a natural vegetation community. Instead, such land is eligible for a reduced valuation if the landowner establishes and complies with a written management agreement between the landowner and either the Department of Inland Fisheries and Wildlife or the Department of Agriculture, Conservation and Forestry to ensure that the habitat benefits provided by the land are not lost. This bill establishes specific criteria for management plans, including requiring them to contain specific strategies for compliance, be sworn to and complied with by the landowner and renewed at least once every 10 years. This bill requires the State Tax Assessor to reimburse municipalities for revenue lost as a result of being enrolled under the farm and open space tax law in a manner similar to the method of reimbursement under the Maine Tree Growth Tax Law. This bill also removes the provision limiting to no more than 15,000 acres the amount of land that may be enrolled by a landowner under the farm and open space tax law.

Statutes affected:
Bill Text LD 1648, HP 1060: 36.1102, 36.1106, 36.1109, 36.1114, 36.1118