Texas HB2930 amends tax code to redefine qualified open-space land for ad valorem tax purposes.

Texas HB2930 amends the Tax Code to redefine "qualified open-space land" for ad valorem tax purposes. The bill specifies that land devoted principally to agricultural use, including uncommon methods like organic or sustainable farming, qualifies as open-space land. It also includes land used for wildlife management or by educational institutions as ecological laboratories. The comptroller, in consultation with various stakeholders, will develop guidelines for appraising such land, considering factors like financial investment and active management.

Texas HB2930 amends tax code to redefine qualified open-space land for ad valorem tax purposes.

Texas HB2930 amends the Tax Code to redefine "qualified open-space land" for ad valorem tax purposes. The bill specifies that land devoted principally to agricultural use, including uncommon methods like organic or sustainable farming, qualifies as open-space land. It also includes land used for wildlife management or by educational institutions as ecological laboratories. The comptroller, in consultation with various stakeholders, will develop guidelines for appraising such land, considering factors like financial investment and active management.