{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/10.1-1020.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/10.1-1020.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/10.1-1020.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/10.1-1020.html"}],"law_id":86514,"edition_id":1,"section_id":86514,"structure_id":15219,"section_number":"10.1-1020","catch_line":"Virginia Land Conservation Fund; purposes of Foundation","history":"1992, c. 426; 1999, cc. 900, 906; 2000, cc. 494, 1053; 2006, c. 227; 2007, cc. 77, 673; 2019, c. 539; 2022, c. 705.","full_text":"A\n\nThe Foundation shall establish, administer, manage, including the creation of reserves, and make expenditures and allocations from a special, nonreverting fund in the state treasury to be known as the Virginia Land Conservation Fund, hereinafter referred to as the Fund. The Foundation shall establish and administer the Fund solely for the purposes of:1\n\nAcquiring fee simple title or other rights, including the purchase of development rights, to interests or privileges in property for the protection or preservation of ecological, cultural or historical resources, lands for recreational purposes, state forest lands, and lands for threatened or endangered species, fish and wildlife habitat, natural areas, agricultural and forestal lands and open space, and for conservation and restoration of homelands for state-recognized and federally recognized Virginia Indian Tribes; and2\n\nProviding grants to state agencies, including the Virginia Outdoors Foundation and state-recognized and federally recognized Virginia Indian Tribes, and matching grants to other public bodies and holders for acquiring fee simple title or other rights, including the purchase of development rights, to interests or privileges in real property for the protection or preservation of ecological, cultural or historical resources, lands for recreational purposes, and lands for threatened or endangered species, fish and wildlife habitat, natural areas, agricultural and forestal lands and open space. The Board shall establish criteria for making grants from the Fund, including procedures for determining the amount of each grant and the required match. The criteria shall include provisions for grants to localities for purchase of development rights programs.\n\t\t\t\tInterests in land acquired as provided in subdivision 1 may be held by the Foundation, state agencies, state-recognized or federally recognized Virginia Indian Tribes, other public bodies, and appropriate holders. Whenever a holder acquires any interest in land other than a fee simple interest as a result of a grant or transfer from the Foundation, such interest shall be held jointly by the holder and a public body. Whenever a holder acquires a fee simple interest in land as a result of a grant or transfer from the Foundation, a public body shall hold an open space easement in such land.B\n\nThe Fund shall consist of general fund moneys and gifts, endowments or grants from the United States government, its agencies and instrumentalities, and funds from any other available sources, public or private. Such moneys, gifts, endowments, grants or funds from other sources may be either restricted or unrestricted. For the purposes of this chapter, “restricted funds” shall mean those funds received by the Board to which specific conditions apply; “restricted funds” shall include, but not be limited to, general obligation bond moneys and conditional gifts. “Unrestricted funds” shall mean those received by the Foundation to which no specific conditions apply; “unrestricted funds” shall include, but not be limited to, moneys appropriated to the Fund by the General Assembly to which no specific conditions are attached and unconditional gifts.C\n\nIn any fiscal year for which the Fund is appropriated less than $10 million, and after an allocation for administrative expenses has been made as provided in subsection G, the remaining unrestricted funds in the Fund shall be allocated as follows:1\n\nTwenty-five percent shall be transferred to the Virginia Outdoors Foundation’s Open-Space Lands Preservation Trust Fund to be used as provided in § 10.1-1801.1; and2\n\nSeventy-five percent shall be divided equally among the following four grant uses: (i) natural area protection; (ii) open spaces and parks, including but not limited to, land for public hunting, fishing or wildlife watching; (iii) farmlands and forest preservation; and (iv) historic area preservation. Of the amount allocated as provided in this subdivision, at least one third shall be used to secure easements to be held or co-held by a public body.D\n\nIn any fiscal year for which the Fund is appropriated $10 million or more, and after an allocation for administrative expenses has been made as provided in subsection G, the remaining unrestricted funds in the Fund shall be allocated as follows:1\n\nTwenty-five percent shall be transferred to the Virginia Outdoors Foundation’s Open-Space Lands Preservation Trust Fund to be used as provided in § 10.1-1801.1; and2\n\nThe remaining funds shall be divided equally among the following five grant uses: (i) natural area protection; (ii) open spaces and parks, including but not limited to, land for public hunting, fishing, or wildlife watching; (iii) farmland preservation; (iv) forestland conservation; and (v) historic area preservation.E\n\nAny moneys remaining in the Fund at the end of a biennium shall remain in the Fund, and shall not revert to the general fund. Interest earned on moneys received by the Fund other than bond proceeds shall remain in the Fund and be credited to it. Any funds transferred to the Open-Space Lands Preservation Trust Fund pursuant to this section and not disbursed or committed to a project by the end of the fiscal year in which the funds were transferred shall be returned to the Virginia Land Conservation Fund and shall be redistributed among the authorized grant uses during the next grant cycle.F\n\nA portion of the Fund, not to exceed 20 percent of the annual balance of unrestricted funds, may be used to develop properties purchased in fee simple, or through the purchase of development rights, with the assets of the Fund for public use including, but not limited to, development of trails, parking areas, infrastructure, and interpretive projects or to conduct environmental assessments or other preliminary evaluations of properties prior to the acquisition of any property interest.G\n\nUp to $250,000 per year of the interest generated by the Fund may be used for the Foundation’s administrative expenses, including, but not limited to, the expenses of the Board and its members, development of the Foundation’s strategic plan, development and maintenance of an inventory of properties as provided in subdivision 1 b of § 10.1-1021, development of a needs assessment for future expenditures as provided in subdivision 1 c of § 10.1-1021, and fulfillment of reporting requirements. All such expenditures shall be subject to approval by the Board of Trustees.H\n\nThe Comptroller shall maintain the restricted funds and the unrestricted funds in separate accounts.I\n\nFor the purposes of this section, “public body” shall have the meaning ascribed to it in § 10.1-1700, and “holder” shall have the meaning ascribed to it in § 10.1-1009.","order_by":null,"text":{"0":{"id":309864,"text":"The Foundation shall establish, administer, manage, including the creation of reserves, and make expenditures and allocations from a special, nonreverting fund in the state treasury to be known as the Virginia Land Conservation Fund, hereinafter referred to as the Fund. The Foundation shall establish and administer the Fund solely for the purposes of:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":309865,"text":"Acquiring fee simple title or other rights, including the purchase of development rights, to interests or privileges in property for the protection or preservation of ecological, cultural or historical resources, lands for recreational purposes, state forest lands, and lands for threatened or endangered species, fish and wildlife habitat, natural areas, agricultural and forestal lands and open space, and for conservation and restoration of homelands for state-recognized and federally recognized Virginia Indian Tribes; and","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":309866,"text":"Providing grants to state agencies, including the Virginia Outdoors Foundation and state-recognized and federally recognized Virginia Indian Tribes, and matching grants to other public bodies and holders for acquiring fee simple title or other rights, including the purchase of development rights, to interests or privileges in real property for the protection or preservation of ecological, cultural or historical resources, lands for recreational purposes, and lands for threatened or endangered species, fish and wildlife habitat, natural areas, agricultural and forestal lands and open space. The Board shall establish criteria for making grants from the Fund, including procedures for determining the amount of each grant and the required match. The criteria shall include provisions for grants to localities for purchase of development rights programs.\n\t\t\t\tInterests in land acquired as provided in subdivision 1 may be held by the Foundation, state agencies, state-recognized or federally recognized Virginia Indian Tribes, other public bodies, and appropriate holders. Whenever a holder acquires any interest in land other than a fee simple interest as a result of a grant or transfer from the Foundation, such interest shall be held jointly by the holder and a public body. Whenever a holder acquires a fee simple interest in land as a result of a grant or transfer from the Foundation, a public body shall hold an open space easement in such land.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"B"},"3":{"id":309867,"text":"The Fund shall consist of general fund moneys and gifts, endowments or grants from the United States government, its agencies and instrumentalities, and funds from any other available sources, public or private. Such moneys, gifts, endowments, grants or funds from other sources may be either restricted or unrestricted. For the purposes of this chapter, “restricted funds” shall mean those funds received by the Board to which specific conditions apply; “restricted funds” shall include, but not be limited to, general obligation bond moneys and conditional gifts. “Unrestricted funds” shall mean those received by the Foundation to which no specific conditions apply; “unrestricted funds” shall include, but not be limited to, moneys appropriated to the Fund by the General Assembly to which no specific conditions are attached and unconditional gifts.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A2","next_prefix":"C"},"4":{"id":309868,"text":"In any fiscal year for which the Fund is appropriated less than $10 million, and after an allocation for administrative expenses has been made as provided in subsection G, the remaining unrestricted funds in the Fund shall be allocated as follows:","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C1"},"5":{"id":309869,"text":"Twenty-five percent shall be transferred to the Virginia Outdoors Foundation’s Open-Space Lands Preservation Trust Fund to be used as provided in § 10.1-1801.1; and","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"6":{"id":309870,"text":"Seventy-five percent shall be divided equally among the following four grant uses: (i) natural area protection; (ii) open spaces and parks, including but not limited to, land for public hunting, fishing or wildlife watching; (iii) farmlands and forest preservation; and (iv) historic area preservation. Of the amount allocated as provided in this subdivision, at least one third shall be used to secure easements to be held or co-held by a public body.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1","next_prefix":"D"},"7":{"id":309871,"text":"In any fiscal year for which the Fund is appropriated $10 million or more, and after an allocation for administrative expenses has been made as provided in subsection G, the remaining unrestricted funds in the Fund shall be allocated as follows:","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C2","next_prefix":"D1"},"8":{"id":309872,"text":"Twenty-five percent shall be transferred to the Virginia Outdoors Foundation’s Open-Space Lands Preservation Trust Fund to be used as provided in § 10.1-1801.1; and","type":"section","prefixes":["D","1"],"prefix":"1","entire_prefix":"D1","prefix_anchor":"D1","level":2,"prior_prefix":"D","next_prefix":"D2"},"9":{"id":309873,"text":"The remaining funds shall be divided equally among the following five grant uses: (i) natural area protection; (ii) open spaces and parks, including but not limited to, land for public hunting, fishing, or wildlife watching; (iii) farmland preservation; (iv) forestland conservation; and (v) historic area preservation.","type":"section","prefixes":["D","2"],"prefix":"2","entire_prefix":"D2","prefix_anchor":"D2","level":2,"prior_prefix":"D1","next_prefix":"E"},"10":{"id":309874,"text":"Any moneys remaining in the Fund at the end of a biennium shall remain in the Fund, and shall not revert to the general fund. Interest earned on moneys received by the Fund other than bond proceeds shall remain in the Fund and be credited to it. Any funds transferred to the Open-Space Lands Preservation Trust Fund pursuant to this section and not disbursed or committed to a project by the end of the fiscal year in which the funds were transferred shall be returned to the Virginia Land Conservation Fund and shall be redistributed among the authorized grant uses during the next grant cycle.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D2","next_prefix":"F"},"11":{"id":309875,"text":"A portion of the Fund, not to exceed 20 percent of the annual balance of unrestricted funds, may be used to develop properties purchased in fee simple, or through the purchase of development rights, with the assets of the Fund for public use including, but not limited to, development of trails, parking areas, infrastructure, and interpretive projects or to conduct environmental assessments or other preliminary evaluations of properties prior to the acquisition of any property interest.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"G"},"12":{"id":309876,"text":"Up to $250,000 per year of the interest generated by the Fund may be used for the Foundation’s administrative expenses, including, but not limited to, the expenses of the Board and its members, development of the Foundation’s strategic plan, development and maintenance of an inventory of properties as provided in subdivision 1 b of § 10.1-1021, development of a needs assessment for future expenditures as provided in subdivision 1 c of § 10.1-1021, and fulfillment of reporting requirements. All such expenditures shall be subject to approval by the Board of Trustees.","type":"section","prefixes":["G"],"prefix":"G","entire_prefix":"G","prefix_anchor":"G","level":1,"prior_prefix":"F","next_prefix":"H"},"13":{"id":309877,"text":"The Comptroller shall maintain the restricted funds and the unrestricted funds in separate accounts.","type":"section","prefixes":["H"],"prefix":"H","entire_prefix":"H","prefix_anchor":"H","level":1,"prior_prefix":"G","next_prefix":"I"},"14":{"id":309878,"text":"For the purposes of this section, “public body” shall have the meaning ascribed to it in § 10.1-1700, and “holder” shall have the meaning ascribed to it in § 10.1-1009.","type":"section","prefixes":["I"],"prefix":"I","entire_prefix":"I","prefix_anchor":"I","level":1,"prior_prefix":"H"}},"ancestry":[{"id":15219,"edition_id":1,"name":"Virginia Land Conservation Foundation","identifier":"10.2","label":"chapter","depth":3,"order_by":1,"parent_id":12893,"metadata":{},"date_created":"2026-06-26 03:53:07","date_modified":"2026-06-26 03:53:07","permalink":{"id":143549,"object_type":"structure","relational_id":15219,"identifier":"10.2","token":"10.1\/I\/10.2","url":"\/10.1\/I\/10.2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12893,"edition_id":1,"name":"Activities Administered by the Department of Conservation and Recreation","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12740,"metadata":{},"date_created":"2026-06-26 03:43:59","date_modified":"2026-06-26 03:43:59","permalink":{"id":143315,"object_type":"structure","relational_id":12893,"identifier":"I","token":"10.1\/I","url":"\/10.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12740,"edition_id":1,"name":"Conservation","identifier":"10.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":143313,"object_type":"structure","relational_id":12740,"identifier":"10.1","token":"10.1","url":"\/10.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80745,"structure_id":15219,"section_number":"10.1-1017","catch_line":"Foundation created","url":"\/10.1-1017\/","token":"10.1\/I\/10.2\/10.1-1017","metadata":false},{"id":71549,"structure_id":15219,"section_number":"10.1-1018","catch_line":"Virginia Land Conservation Board of Trustees; membership; terms; vacancies; compensation and expenses","url":"\/10.1-1018\/","token":"10.1\/I\/10.2\/10.1-1018","metadata":false},{"id":77430,"structure_id":15219,"section_number":"10.1-1018.1","catch_line":"Reporting","url":"\/10.1-1018.1\/","token":"10.1\/I\/10.2\/10.1-1018.1","metadata":false},{"id":79651,"structure_id":15219,"section_number":"10.1-1019","catch_line":"Executive secretary; land management","url":"\/10.1-1019\/","token":"10.1\/I\/10.2\/10.1-1019","metadata":false},{"id":86514,"structure_id":15219,"section_number":"10.1-1020","catch_line":"Virginia Land Conservation Fund; purposes of Foundation","url":"\/10.1-1020\/","token":"10.1\/I\/10.2\/10.1-1020","metadata":false},{"id":87197,"structure_id":15219,"section_number":"10.1-1021","catch_line":"Powers of the Foundation","url":"\/10.1-1021\/","token":"10.1\/I\/10.2\/10.1-1021","metadata":false},{"id":73324,"structure_id":15219,"section_number":"10.1-1021.1","catch_line":"Geographic distribution of land protected","url":"\/10.1-1021.1\/","token":"10.1\/I\/10.2\/10.1-1021.1","metadata":false},{"id":67856,"structure_id":15219,"section_number":"10.1-1021.2","catch_line":"Additional powers of the Foundation; requests for conservation easement dispute mediation","url":"\/10.1-1021.2\/","token":"10.1\/I\/10.2\/10.1-1021.2","metadata":false},{"id":69719,"structure_id":15219,"section_number":"10.1-1022","catch_line":"Expenditure of restricted funds","url":"\/10.1-1022\/","token":"10.1\/I\/10.2\/10.1-1022","metadata":false},{"id":66543,"structure_id":15219,"section_number":"10.1-1022.1","catch_line":"Expenditure of funds for natural area protection","url":"\/10.1-1022.1\/","token":"10.1\/I\/10.2\/10.1-1022.1","metadata":false},{"id":64478,"structure_id":15219,"section_number":"10.1-1023","catch_line":"Certain expenditures prohibited","url":"\/10.1-1023\/","token":"10.1\/I\/10.2\/10.1-1023","metadata":false},{"id":82201,"structure_id":15219,"section_number":"10.1-1024","catch_line":"Gifts and bequests to Foundation","url":"\/10.1-1024\/","token":"10.1\/I\/10.2\/10.1-1024","metadata":false},{"id":59429,"structure_id":15219,"section_number":"10.1-1025","catch_line":"Forms of accounts and records; audit of same","url":"\/10.1-1025\/","token":"10.1\/I\/10.2\/10.1-1025","metadata":false},{"id":57957,"structure_id":15219,"section_number":"10.1-1026","catch_line":"Cooperation of state agencies","url":"\/10.1-1026\/","token":"10.1\/I\/10.2\/10.1-1026","metadata":false}],"previous_section":{"id":79651,"structure_id":15219,"section_number":"10.1-1019","catch_line":"Executive secretary; land management","url":"\/10.1-1019\/","token":"10.1\/I\/10.2\/10.1-1019","metadata":false},"next_section":{"id":87197,"structure_id":15219,"section_number":"10.1-1021","catch_line":"Powers of the Foundation","url":"\/10.1-1021\/","token":"10.1\/I\/10.2\/10.1-1021","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/10.1-1020\/","history_text":"

This law was first created in 1992. The record of its establishment is cataloged in chapter 426 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1992 \u201cActs\u201d aren\u2019t available online. It has been modified 6 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1999, chapters 900<\/a> and 906<\/a>; in 2000, chapters 494<\/a> and 1053<\/a>; in 2006, chapter 227<\/a>; in 2007, chapters 77<\/a> and 673<\/a>; in 2019, chapter 539<\/a>; in 2022, chapter 705<\/a>.<\/p>","references":[{"id":87197,"section_number":"10.1-1021","catch_line":"Powers of the Foundation","order_by":null,"url":"\/10.1-1021\/"},{"id":75383,"section_number":"2.2-1149","catch_line":"Department to review proposed acquisitions of real property; approval by the Governor; exceptions","order_by":null,"url":"\/2.2-1149\/"},{"id":80925,"section_number":"2.2-1509.4","catch_line":"Budget bill to include an appropriation for land preservation","order_by":null,"url":"\/2.2-1509.4\/"},{"id":76719,"section_number":"58.1-512","catch_line":"Land preservation tax credits for individuals and corporations","order_by":null,"url":"\/58.1-512\/"}],"refers_to":[{"id":64435,"section_number":"10.1-1009","catch_line":"Definitions","order_by":null,"url":"\/10.1-1009\/"},{"id":87197,"section_number":"10.1-1021","catch_line":"Powers of the Foundation","order_by":null,"url":"\/10.1-1021\/"},{"id":59427,"section_number":"10.1-1700","catch_line":"Definitions","order_by":null,"url":"\/10.1-1700\/"},{"id":59464,"section_number":"10.1-1801.1","catch_line":"Open-Space Lands Preservation Trust Fund","order_by":null,"url":"\/10.1-1801.1\/"}],"permalink":{"id":143567,"object_type":"law","relational_id":86514,"identifier":"10.1-1020","token":"10.1\/I\/10.2\/10.1-1020","url":"\/10.1-1020\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/10.1-1020\/","token":"10.1\/I\/10.2\/10.1-1020","dublin_core":{"Title":"Virginia Land Conservation Fund; purposes of Foundation","Type":"Text","Format":"text\/html","Identifier":"\u00a7 10.1-1020","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Foundation shall establish, administer, manage, including the creation of reserves, and make expenditures and allocations from a special, nonreverting fund in the state treasury to be known as the Virginia Land Conservation Fund, hereinafter referred to as the Fund. The Foundation shall establish and administer the Fund solely for the purposes of: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Acquiring fee simple title or other rights, including the purchase of development rights, to interests or privileges<\/span> in property for the protection or preservation of ecological, cultural or historical resources, lands for recreational purposes, state forest lands, and lands for threatened or endangered species, fish and wildlife habitat, natural areas, agricultural and forestal lands and open space, and for conservation and restoration of homelands for state-recognized and federally recognized Virginia Indian Tribes; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Providing grants to state agencies, including the Virginia Outdoors Foundation and state-recognized and federally recognized Virginia Indian Tribes, and matching grants to other public bodies and holders for acquiring fee simple title or other rights, including the purchase of development rights, to interests or privileges<\/span> in real property for the protection or preservation of ecological, cultural or historical resources, lands for recreational purposes, and lands for threatened or endangered species, fish and wildlife habitat, natural areas, agricultural and forestal lands and open space. The Board shall establish criteria for making grants from the Fund, including procedures for determining the amount of each grant and the required match. The criteria shall include provisions for grants to localities for purchase of development rights programs.\n\t\t\t\tInterests in land acquired as provided in subdivision 1 may be held by the Foundation, state agencies, state-recognized or federally recognized Virginia Indian Tribes, other public bodies, and appropriate holders. Whenever a holder acquires any interest in land other than a fee simple interest as a result of a grant or transfer from the Foundation, such interest shall be held jointly by the holder and a public body. Whenever a holder acquires a fee simple interest in land as a result of a grant or transfer from the Foundation, a public body shall hold an open space easement in such land. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Fund shall consist of general fund moneys and gifts, endowments or grants from the United States government, its agencies and instrumentalities, and funds from any other available sources, public or private. Such moneys, gifts, endowments, grants or funds from other sources may be either restricted or unrestricted. For the purposes of this chapter, “restricted funds<\/span>” shall mean those funds received by the Board to which specific conditions apply; “restricted funds<\/span>” shall include, but not be limited to, general obligation bond<\/span> moneys and conditional gifts. “Unrestricted funds<\/span>” shall mean those received by the Foundation to which no specific conditions apply; “unrestricted funds<\/span>” shall include, but not be limited to, moneys appropriated to the Fund by the General Assembly to which no specific conditions are attached and unconditional gifts. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> In any fiscal year for which the Fund is appropriated less than $10 million, and after an allocation for administrative expenses has been made as provided in subsection G, the remaining unrestricted funds<\/span> in the Fund shall be allocated as follows: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Twenty-five percent shall be transferred to the Virginia Outdoors Foundation’s Open-Space Lands Preservation Trust Fund to be used as provided in § 10.1-1801.1<\/a>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Seventy-five percent shall be divided equally among the following four grant uses: (i) natural area protection; (ii) open spaces and parks, including but not limited to, land for public hunting, fishing or wildlife watching; (iii) farmlands and forest preservation; and (iv) historic area preservation. Of the amount allocated as provided in this subdivision, at least one third shall be used to secure easements to be held or co-held by a public body. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> In any fiscal year for which the Fund is appropriated $10 million or more, and after an allocation for administrative expenses has been made as provided in subsection G, the remaining unrestricted funds<\/span> in the Fund shall be allocated as follows: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Twenty-five percent shall be transferred to the Virginia Outdoors Foundation’s Open-Space Lands Preservation Trust Fund to be used as provided in § 10.1-1801.1<\/a>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The remaining funds shall be divided equally among the following five grant uses: (i) natural area protection; (ii) open spaces and parks, including but not limited to, land for public hunting, fishing, or wildlife watching; (iii) farmland preservation; (iv) forestland conservation; and (v) historic area preservation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Any moneys remaining in the Fund at the end of a biennium shall remain in the Fund, and shall not revert to the general fund. Interest earned on moneys received by the Fund other than bond<\/span> proceeds shall remain in the Fund and be credited to it. Any funds transferred to the Open-Space Lands Preservation Trust Fund pursuant to this section and not disbursed or committed to a project by the end of the fiscal year in which the funds were transferred shall be returned to the Virginia Land Conservation Fund and shall be redistributed among the authorized grant uses during the next grant cycle. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> A portion of the Fund, not to exceed 20 percent of the annual balance of unrestricted funds<\/span>, may be used to develop properties purchased in fee simple, or through the purchase of development rights, with the assets<\/span> of the Fund for public use including, but not limited to, development of trails, parking areas, infrastructure, and interpretive projects or to conduct environmental assessments or other preliminary evaluations of properties prior to the acquisition of any property interest. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

G.<\/span> Up to $250,000 per year of the interest generated by the Fund may be used for the Foundation’s administrative expenses, including, but not limited to, the expenses of the Board and its members, development of the Foundation’s strategic plan, development and maintenance of an inventory of properties as provided in subdivision 1 b of § 10.1-1021<\/a>, development of a needs assessment for future expenditures as provided in subdivision 1 c of § 10.1-1021<\/a>, and fulfillment of reporting requirements. All such expenditures shall be subject to approval by the Board of Trustees. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

H.<\/span> The Comptroller shall maintain the restricted funds<\/span> and the unrestricted funds<\/span> in separate accounts. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

I.<\/span> For the purposes of this section, “public body” shall have the meaning ascribed to it in § 10.1-1700<\/a>, and “holder” shall have the meaning ascribed to it in § 10.1-1009<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nVIRGINIA LAND CONSERVATION FUND; PURPOSES OF FOUNDATION (\u00a7 10.1-1020)\n\nA. The Foundation shall establish, administer, manage, including the creation of\nreserves, and make expenditures and allocations from a special, nonreverting\nfund in the state treasury to be known as the Virginia Land Conservation Fund,\nhereinafter referred to as the Fund. The Foundation shall establish and\nadminister the Fund solely for the purposes of:\n\n 1. Acquiring fee simple title or other rights, including the purchase of\n development rights, to interests or privileges in property for the protection\n or preservation of ecological, cultural or historical resources, lands for\n recreational purposes, state forest lands, and lands for threatened or\n endangered species, fish and wildlife habitat, natural areas, agricultural and\n forestal lands and open space, and for conservation and restoration of\n homelands for state-recognized and federally recognized Virginia Indian\n Tribes; and\n\n 2. Providing grants to state agencies, including the Virginia Outdoors\n Foundation and state-recognized and federally recognized Virginia Indian\n Tribes, and matching grants to other public bodies and holders for acquiring\n fee simple title or other rights, including the purchase of development\n rights, to interests or privileges in real property for the protection or\n preservation of ecological, cultural or historical resources, lands for\n recreational purposes, and lands for threatened or endangered species, fish\n and wildlife habitat, natural areas, agricultural and forestal lands and open\n space. The Board shall establish criteria for making grants from the Fund,\n including procedures for determining the amount of each grant and the required\n match. The criteria shall include provisions for grants to localities for\n purchase of development rights programs.\n \t\t\t\tInterests in land acquired as provided in subdivision 1 may be held by the\n Foundation, state agencies, state-recognized or federally recognized Virginia\n Indian Tribes, other public bodies, and appropriate holders. Whenever a holder\n acquires any interest in land other than a fee simple interest as a result of\n a grant or transfer from the Foundation, such interest shall be held jointly\n by the holder and a public body. Whenever a holder acquires a fee simple\n interest in land as a result of a grant or transfer from the Foundation, a\n public body shall hold an open space easement in such land.\n\nB. The Fund shall consist of general fund moneys and gifts, endowments or grants\nfrom the United States government, its agencies and instrumentalities, and funds\nfrom any other available sources, public or private. Such moneys, gifts,\nendowments, grants or funds from other sources may be either restricted or\nunrestricted. For the purposes of this chapter, “restricted funds”\nshall mean those funds received by the Board to which specific conditions apply;\n“restricted funds” shall include, but not be limited to, general\nobligation bond moneys and conditional gifts. “Unrestricted funds”\nshall mean those received by the Foundation to which no specific conditions\napply; “unrestricted funds” shall include, but not be limited to,\nmoneys appropriated to the Fund by the General Assembly to which no specific\nconditions are attached and unconditional gifts.\n\nC. In any fiscal year for which the Fund is appropriated less than $10 million,\nand after an allocation for administrative expenses has been made as provided in\nsubsection G, the remaining unrestricted funds in the Fund shall be allocated as\nfollows:\n\n 1. Twenty-five percent shall be transferred to the Virginia Outdoors\n Foundation’s Open-Space Lands Preservation Trust Fund to be used as\n provided in § 10.1-1801.1; and\n\n 2. Seventy-five percent shall be divided equally among the following four\n grant uses: (i) natural area protection; (ii) open spaces and parks, including\n but not limited to, land for public hunting, fishing or wildlife watching;\n (iii) farmlands and forest preservation; and (iv) historic area preservation.\n Of the amount allocated as provided in this subdivision, at least one third\n shall be used to secure easements to be held or co-held by a public body.\n\nD. In any fiscal year for which the Fund is appropriated $10 million or more,\nand after an allocation for administrative expenses has been made as provided in\nsubsection G, the remaining unrestricted funds in the Fund shall be allocated as\nfollows:\n\n 1. Twenty-five percent shall be transferred to the Virginia Outdoors\n Foundation’s Open-Space Lands Preservation Trust Fund to be used as\n provided in § 10.1-1801.1; and\n\n 2. The remaining funds shall be divided equally among the following five grant\n uses: (i) natural area protection; (ii) open spaces and parks, including but\n not limited to, land for public hunting, fishing, or wildlife watching; (iii)\n farmland preservation; (iv) forestland conservation; and (v) historic area\n preservation.\n\nE. Any moneys remaining in the Fund at the end of a biennium shall remain in the\nFund, and shall not revert to the general fund. Interest earned on moneys\nreceived by the Fund other than bond proceeds shall remain in the Fund and be\ncredited to it. Any funds transferred to the Open-Space Lands Preservation Trust\nFund pursuant to this section and not disbursed or committed to a project by the\nend of the fiscal year in which the funds were transferred shall be returned to\nthe Virginia Land Conservation Fund and shall be redistributed among the\nauthorized grant uses during the next grant cycle.\n\nF. A portion of the Fund, not to exceed 20 percent of the annual balance of\nunrestricted funds, may be used to develop properties purchased in fee simple,\nor through the purchase of development rights, with the assets of the Fund for\npublic use including, but not limited to, development of trails, parking areas,\ninfrastructure, and interpretive projects or to conduct environmental\nassessments or other preliminary evaluations of properties prior to the\nacquisition of any property interest.\n\nG. Up to $250,000 per year of the interest generated by the Fund may be used for\nthe Foundation’s administrative expenses, including, but not limited to,\nthe expenses of the Board and its members, development of the Foundation’s\nstrategic plan, development and maintenance of an inventory of properties as\nprovided in subdivision 1 b of § 10.1-1021, development of a needs\nassessment for future expenditures as provided in subdivision 1 c of §\n10.1-1021, and fulfillment of reporting requirements. All such expenditures\nshall be subject to approval by the Board of Trustees.\n\nH. The Comptroller shall maintain the restricted funds and the unrestricted\nfunds in separate accounts.\n\nI. For the purposes of this section, “public body” shall have the\nmeaning ascribed to it in § 10.1-1700, and “holder” shall have\nthe meaning ascribed to it in § 10.1-1009.\n\nHISTORY: 1992, c. 426; 1999, cc. 900, 906; 2000, cc. 494, 1053; 2006, c. 227;\n2007, cc. 77, 673; 2019, c. 539; 2022, c. 705.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}