NC H680

Allows agricultural conservation easements on qualifying farmland to include a provision giving the easement holder a right of first refusal or option to purchase the land at agricultural value.

Permits such purchase rights to exist in perpetuity, run with the land, and bind all future owners of the farmland encumbered by the easement.

Defines "agricultural conservation easement" as a negative easement restricting residential, commercial, and industrial development to maintain the land's agricultural production capability.

Defines "agricultural value" as the value of easement-encumbered land based on its highest and best use for agricultural purposes, which may fluctuate with market conditions and inflation.

Takes effect upon enactment and applies to agricultural conservation easements executed on or after the effective date.