To clarify the definition of farm and agricultural land, as it relates to the State’s Open Space Program. This act would apply to taxes levied for collection beginning in 2008.   Official Text and Analysis.

To require $18,000 of yearly gross income for four of five years to apply for and to continue to qualify for the current use farm and agriculture valuation for land underlying homes on parcels less than 20 acres. Income for this current use valuation can only be derived from horticultural products, floricultural products, plant cultivation products, viticultural products, fruit and vegetable products, and poultry and egg products. Evidence of annual income is required to be filed on an annual basis with the county assessor.