VA SB522

Transfers management of the Forest Sustainability Fund to the Office of Working Lands Preservation, operating under the supervision of the State Forester

The Forest Sustainability Fund reimburses localities for revenue lost due to use value assessment and taxation of forest land

Localities must submit applications by November 15 each year with their ordinance and total revenue forgone from forest use value taxation

Individual locality allocations are capped at 4% and floored at 0.5% of available funds, with no locality receiving more than its actual forgone revenue

Funds received by localities must be used for public education, outdoor recreation projects, or forest conservation