CA AB2955

Renames the "Agricultural Land Stewardship Program of 1995" to the "California Farmland Conservancy Program Act" and revises legislative intent to remove barriers for socially disadvantaged farmers and ranchers to access and steward agricultural land.

Expands eligible uses of program funds to include technical assistance grants to support socially disadvantaged farmers and ranchers seeking land acquisition or leasing financing, and acquisition assistance grants covering down payment assistance, interest rate assistance, and infrastructure improvements.

Requires that not less than 25% of program funds be provided to applicants that lease or sell to socially disadvantaged farmers and ranchers, and mandates inclusion of a "farmer-purchaser preference" in agricultural conservation easements to allow preferential purchase rights at agricultural use value.

Simplifies eligibility criteria by removing requirements for local general plan commitments to agriculture and instead allows fee title acquisitions to be either sold at agricultural use value within three years or leased to socially disadvantaged farmers and ranchers at affordable rates.

Expands applicant types to include cooperative corporations and California Native American tribes, and eliminates local government approval requirements for grant disbursement.