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9/16/04 <br /> MAJOR PROPOSALS IN BILL NO. 49 <br /> 1. Defines commercial agricultural activities <br /> 2. Requires commercial agricultural activity to qualify for 10- <br /> year dedication benefits <br /> 3. Maintains agricultural use valuation method for dedicated <br /> properties <br /> <br /> 4. Allows a shorter dedication period for leasehold properties <br /> in certain circumstances <br /> 5. Allows cancellation of dedication without penalty in the case <br /> of certain disasters or disabilities of primary farmer <br /> 6. Reduces severity of rollback penalties for breach of <br /> dedication <br /> 7. Provides benefits for Ag Use, Non-dedicated properties, <br /> using two times the dedicated agricultural use valuation <br /> 8. Reduces rollback period for Ag Use, Non-dedicated program <br /> 9. Eliminates 20-year dedications <br /> Note: Homesite valuation is not part of changes proposed in <br /> Bill No. 49. <br /> Comm. No. ~ Z <br /> Ref. To: Ci <br /> Rof. Gate SEP <br /> <br />