A Tulsa lawmaker has authored a bill that he hopes would limit urban sprawl by offering financial incentives to agricultural owners to preserve their farmland.
State Rep. Lucky Lamons would rather farm owners donate their land to a conservation easement than sell it to developers. His bill would allow for a tax credit of half the fair market value of the land.
The cap would be set at $100,000 initially, then jump to $250,000 in 2011. The credits could be sold to a corporation for a cash benefit or used as a tax credit.
Monday, March 3, 2008
...from one Oklahoma legislator: