OH SB16

Exempts from gross estate the value of real property subject to conservation easements granted in perpetuity to the Department of Natural Resources, park districts, conservancy districts, soil and water conservation districts, counties, townships, municipalities, federal government, or qualified charitable organizations.

Exempts from gross estate the value of real property subject to agricultural easements granted in perpetuity to the Director of Agriculture, municipalities, counties, townships, soil and water conservation districts, federal government, or qualified charitable organizations.

Exempts from gross estate the value of real property enrolled in an agricultural security area under Chapter 931 of the Revised Code.

Applies to estates of decedents who die on or after the effective date of the act.

Defines conservation easement and agricultural easement by reference to section 5301.67 of the Revised Code.