CA AB2530

Authorizes counties to reduce Williamson Act contract terms from 10 years to 9 years (or 20 years to 18 years) when state reimbursement payments fall below 50% of actual foregone property tax revenue, effective January 1, 2011 through January 1, 2015.

Requires county assessors to revalue properties under shortened contracts based on the reduced term, with increased tax revenue capped at 10% of the difference between agricultural and fair market value assessments.

Allows landowners to prevent contract modification by serving notice of nonrenewal within 90 days of county notification, with failure to object constituting implied consent to the new terms.

Allocates all increased revenues generated from revalued properties exclusively to the affected county.

Automatically adds two years to contracts in any year when increased revenue does not occur, restoring contracts to their original 10-year or 20-year terms.