Appropriates $128.241 million from constitutionally dedicated CBT revenues to State Agriculture Development Committee for farmland preservation purposes.

This bill appropriates $128.241 million from constitutionally dedicated corporation business tax revenues to the State Agriculture Development Committee for farmland preservation. The funds will be used to acquire permanent protections on farmland (through easements or direct purchases) and provide grants to counties (up to 80% of acquisition costs) and qualified nonprofits (up to 50% of acquisition costs). It also allocates $12 million for administrative costs, $1 million for acquisition expenses, and $150,000 for legal costs related to enforcing preservation protections. If funds aren't fully spent within a year, the committee can increase its offers to landowners beyond standard rates, with public notice required.