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Subcommittee approves substitute easing co-holder requirements for accredited land trusts
Summary
A substitute to a Virginia Land Conservation Fund bill would allow accredited land trusts to hold reversionary rights and reduce co-holder burdens for conservation easements; DCR said it will study the issue and stakeholders supported the change. The substitute passed 9-0.
Delegate Kent presented a substitute to legislation addressing conservation-easement co-holder requirements tied to the Virginia Land Conservation Fund. The substitute would allow property owners who use an accredited land trust (accreditation through the National Land Trust Accreditation Commission) to avoid a co-holder requirement in some cases, while preserving reversionary safeguards for the commonwealth if stewardship fails.
Nikki Robner of DCR said the agency had no position but confirmed the difficulty of finding co-holders in the modern context and said DCR would look into the substitute. Heather Richards of The Conservation Fund and Rachel Henley of the Virginia Farm Bureau testified in support, saying easing co-holder burdens would help conserve farmland and working lands. The subcommittee adopted the substitute and reported the bill by vote 9-0.
