CA AB2550

Establishes the California Conservation Ranching Incentive Program as a separate component of the California Farmland Conservancy Program, to be administered by the Director of Conservation.

Authorizes the Director to enter into 3-year contracts with owners or lessees of productive rangelands, grazing lands, or grasslands determined to be important for conservation of grassland birds, soil health, and biodiversity.

Requires contracts to include an agreement to restore, enhance, and protect grassland habitat character according to an approved management plan, with the Department paying fair and reasonable compensation for conservation obligations.

Creates the California Conservation Ranching Incentive Program Account within the California Farmland Conservancy Program Fund to hold and distribute funds for program purposes upon legislative appropriation.

Allows up to 5 percent of allocated funds for administrative costs, up to 10 percent for planning and monitoring, and up to 20 percent to support entities and provide technical assistance for program implementation.