§ 24-3-104. COUNTY AGRICULTURAL LAND PRESERVATION FUND.

(a)

Established. There is a County Agricultural Land Preservation Fund.

(b)

Source of funding. The Fund consists of:

(1)

The county's share of the state agricultural transfer tax;

(2)

Easement repurchases and reimbursements;

(3)

General obligation bonds; and

(4)

Other available monies for the purchase of easements under this article.

(c)

Purpose of the Fund. The Fund shall be used for agricultural land preservation purposes.

(d)

Special Fund. The Fund is a special, non-lapsing fund.

(e)

Unexpended funds.

(1)

In this subsection, "unexpended funds" means revenue from the agricultural transfer tax in the Fund which has not been expended or committed on or within 3 years after the date of deposit into the Fund.

(2)

On or before July 1, the Director shall advise the Agricultural Board of:

(i)

Funds available for the fiscal year; and

(ii)

Those funds which will become unexpended funds and must be used.

(1988 Code, §§ 14-450, 14-458) (Bill No. 50-93, § 2, 7-10-1993; Bill No. 19-00, § 2, 7-1-2004; Bill No. 90-02, § 1, 10-25-2002; Bill No. 74-03, § 3, 7-1-2004)