NY A06149

Authorizes the Town of Wawayanda in 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

Fund revenues must be used exclusively for preserving open space, parks, agricultural land, wetlands, wildlife habitats, historic properties, scenic areas, and other natural resources to protect community character

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

Establishes exemptions from the transfer tax including conveyances to government entities, properties with development restrictions, agricultural land committed to 8+ years of agricultural use, and transfers to conservation nonprofits

Provides $100,000 exemption on improved property sales and $50,000 exemption on unimproved property sales; the real estate transfer tax provisions expire December 31, 2050