1. (1) The county treasurer shall deposit 100% of the rollback tax funds into an account or fund of the county set aside for preserving or restoring open land and agricultural land.

2. (2) The rollback funds:

   1. (a) may be used to establish a conservation easement under Title 57, Chapter 18, Land Conservation Easement Act, or to fund similar methods to preserve open land or agricultural land; and
   2. (b) if the property to be purchased is in a public land county, may not be used to purchase a fee interest in real property to preserve open land or agricultural land, unless, the governmental entity purchasing the property contemporaneously transfers to the private ownership real property, in the same public land county, that is roughly equivalent in size to the property to be purchased.
3. (3) Eminent domain may not be used or threatened in connection with any purchase using the rollback tax funds.
4. (4) The funds collected by the account or fund of the county may roll over from year-to-year, except that if the county does not spend, or obligate, 100% of the rollback tax funds for a purpose described in Subsection (2) within 10 years after the year in which the county collects the rollback tax funds, the county shall pay the balance to the LeRay McAllister Working Farm and Ranch Account created in Section 4-46-301.

Amended by Chapter 379, 2026 General Session