NY S08362

Amends the Agriculture and Markets Law to define "farmer-purchaser farmland protection agreement" as preemptive purchase rights allowing easement holders to buy protected farmland at agricultural use value when non-farmers intend to purchase it.

Establishes that farmer-purchaser agreements must ensure farmers with adequate farming experience and income can afford protected farmland that might otherwise sell at higher prices to non-agricultural buyers.

Defines "agricultural use value" as fair market value restricted to productive commercial agricultural use rather than highest potential use for residential or non-agricultural purposes.

Requires the Department of Agriculture to consider projects with farmer-purchaser farmland protection agreements as eligible for state assistance payments when evaluating funding applications.

Takes effect 90 days after enactment, with authority for rule-making to occur immediately upon passage.