NY A02022

Authorizes the town of Chester, Orange County, to establish a community preservation fund through local law, funded by a real estate transfer tax of up to 0.75% on property conveyances, subject to mandatory voter referendum

Permits fund expenditures exclusively for preserving open space, agricultural land, parks, nature preserves, wetlands, historic sites, wildlife habitat, scenic areas, and other community character features, with farmland preservation designated as the highest priority

Requires creation of a 5-7 member advisory board with demonstrated conservation experience (including at least one active farmer) to review and recommend property acquisitions, and mandates adoption of a community preservation project plan updated every five years

Provides exemptions from the transfer tax for conveyances involving government entities, gifts, properties with existing conservation easements, viable agricultural land subject to development restrictions, and transfers to nonprofit conservation organizations

Includes a $100,000 exemption on improved property and $50,000 exemption on unimproved property; the tax provisions expire December 31, 2045