S.4578

Allows local governments and nonprofits to use CBT funds for administrative expenses in land acquisition.

The bill amends existing law to allow local governments and nonprofit organizations that receive constitutionally dedicated corporation business tax (CBT) revenues to use a portion of these funds for administrative expenses related to acquiring or developing lands for recreation and conservation purposes. Specifically, these entities can use up to three percent of the cost of acquisition or development for administrative expenses. This provision applies to lands acquired or developed using CBT funds.