NY A05373

Authorizes the town of Orangetown to establish a community preservation fund by local law, funded by revenues from a real estate transfer tax of up to 0.75% on property conveyances and other sources.

Establishes an advisory board of 5-7 unpaid residents (with conservation expertise and at least one active farmer) to review proposed acquisitions of real property interests using fund monies.

Limits fund use to preserving community character through open space, parks, agricultural land, historic properties, wetlands, and similar purposes, with farmland preservation as highest priority and no more than 10% for management costs.

Requires adoption of a community preservation project plan identifying all planned acquisitions and evaluating alternatives like zoning changes, transfer of development rights, and conservation easements before any referendum on the tax.

Real estate transfer tax requires mandatory referendum approval, applies to conveyances on or after a date set by the town board (minimum 60 days after enactment), with exemptions for government entities, gifts, and certain development-restricted properties; provision expires December 31, 2041.