Ch. 65 LAWS OF MARYLAND

matching allotted purchase, made during the ensuing fiscal year; and

(2) The county shall show evidence that any county program for the
acquisition of agricultural land for preservation, or easements for purposes of
preservation of agricultural land, will not result in preservation of land which does not
meet the minimum standards set by the foundation under § 2-509 of this subtitle; and

(3) The request for approval of a local program must be submitted to the
foundation, together with any necessary agreements not later than 90 days prior to the
beginning of the fiscal year for which approval is being sought.

(c) Approval of a local program by the foundation is valid only during the next
fiscal year following the fiscal year of the request for approval by the county.

(d) Local programs shall be approved upon the affirmative vote of a majority of
the foundation members at-large, and upon approval of the Secretary and the State
Treasurer.

(e) (1) In this subsection, "development rights" mean the potential for
improvement of a parcel of real property that is measured in dwelling units or units of
commercial or industrial space and that exist because of the zoning classification of the
parcel.

(2) [The foundation may authorize a county to] A COUNTY SHALL use
that county's unencumbered and uncommitted matching funds AND ANY
ADDITIONAL FUNDS UNDER § 2-508.1 OF THIS SUBTITLE AVAILABLE TO A
COUNTY CERTIFIED BY THE OFFICE OF PLANNING AND THE
FOUNDATION UNDER § 5-408 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE to purchase development rights and guarantee loans that
are collateralized by development rights FOR AGRICULTURAL LAND THAT;
EXCEPT AS PROVIDED IN PARAGRAPH (3) OF THIS SUBSECTION, MEETS
THE MINIMUM STANDARDS SET BY THE FOUNDATION UNDER § 2-509(C)
OF THIS SUBTITLE, EXCEPT AS PROVIDED IN PARAGRAPH (3) OF THIS
SUBSECTION.

(3) FOR A COUNTY CERTIFIED BY THE OFFICE OF PLANNING
AND THE FOUNDATION UNDER § 5-408 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE, IN LIEU OF ANY ACREAGE REQUIREMENT SET
BY THE FOUNDATION UNDER § 2-509(C) OF THIS SUBTITLE,
DEVELOPMENT RIGHTS PURCHASED BY OR COLLATERALIZING LOANS
GUARANTEED BY A COUNTY UNDER THIS SUBSECTION SHALL BE FOR
AGRICULTURAL LAND OF SIGNIFICANT SIZE TO PROMOTE AN
AGRICULTURAL OPERATION.

[(3)] (4) This subsection may not be construed to prohibit any county from
accepting funds from private sources and using those private funds to purchase
development rights or guarantee loans that are collateralized by development rights.

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