IL SB4044

Imposes a $275 per acre Farmland Conversion Fee beginning January 1, 2027, on buyers or lessees who convert agricultural land to industrial, commercial, or residential development

Creates the Farmland Conversion Fee Fund, with required annual distributions of at least $10 million to soil and water conservation districts and $500,000 to the Department of Agriculture for program administration

Fund revenues support education and programs for healthy soil, clean water, and climate-smart agricultural practices, with amounts adjusted annually for inflation

Exempts conversions for personal farmer/landowner use, agricultural infrastructure (livestock operations, grain elevators), State agency projects, high-voltage transmission systems, conservation practices, and wind/solar renewable energy projects

Failure to pay the fee results in a penalty of 3 times the fee amount due, plus interest based on 26-week U.S. Treasury bill rates