Senate Engrossed

State of Arizona Senate Fifty-third Legislature First Regular Session 2017

SENATE BILL 1247

 

AN ACT

 

amending title 33, chapter 2, article 4, Arizona Revised Statutes, by adding section 33-277; relating to conservation easements.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Title 33, chapter 2, article 4, Arizona Revised Statutes, is amended by adding section 33-277, to read:

START_STATUTE33-277.  Easement holder; voluntary payments in lieu of taxes

A.  The holder of a conservation easement may make an annual payment of monies in LIEU of taxes on the reduction of value of the original parcel caused by the placement of the conservation easement.  The payments in lieu of taxes shall be paid to the county treasurer of the county in which the real property burdened by the easement is located.

B.  Payments made pursuant to this section shall be distributed by the county treasurer to the county and to school districts, cities and towns in the county in the same manner as other property tax revenues.END_STATUTE

Sec. 2.  Retroactivity

This act applies retroactively to from and after December 31, 2016.