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Brian Schatz on Environment |
The Legacy Lands Act would establish permanent and adequate funding for land conservation and the preservation of open spaces and scenic resources. This includes watershed protection, coastal preservation, flood prevention, parks, habitat protection, cultural preservation and agricultural production.
The law would work [via] an increase of the conveyance tax, which is assessed on the seller of any property, based on the purchase price. Currently, the tax is 0.1 percent on all land transactions. The conveyance tax revenues are expected to generate $36 million per year.