Michigan SB0699 modifies the Agricultural Preservation Fund to increase the annual administrative cost limit.

Michigan SB0699 amends the Agricultural Preservation Fund to increase the annual limit on administrative costs from $1,400,000 to $2,100,000. The fund, managed by the state treasurer, receives contributions from various sources and is used for preserving farmland and open space. After administrative costs and grants to local governments, any remaining funds over $5,000,000 can be used for purchasing development rights or acquiring agricultural conservation easements.

Michigan SB0699 modifies the Agricultural Preservation Fund to increase the annual administrative cost limit.

Michigan SB0699 amends the Agricultural Preservation Fund to increase the annual limit on administrative costs from $1,400,000 to $2,100,000. The fund, managed by the state treasurer, receives contributions from various sources and is used for preserving farmland and open space. After administrative costs and grants to local governments, any remaining funds over $5,000,000 can be used for purchasing development rights or acquiring agricultural conservation easements.