SB 1266 Summary

• Lowers the threshold for "major acquisition" of conservation lands from $25 million to $15 million of state funds.

• Requires an independent appraisal whenever more than $150,000 of state funds are proposed for expenditure on conservation lands, with appraisals meeting Uniform Standards of Professional Appraisal Practice and prohibiting fee arrangements based on a percentage of appraised value.

• Allows project partners and landowners to contribute to appraisal costs and be identified as users, but prohibits landowners from being named as coclient of the appraiser on and after January 1, 2015.

• Requires appraisals to include detailed property descriptions, photographs, maps, title information, and separate valuations by qualified professionals for specialty interests such as timber, water, minerals, or carbon credits.

• Establishes that major acquisitions must be reviewed by an independent appraiser retained by the acquisition agency who had no involvement in the original appraisal and has no financial interest in the transaction.