Enacts GS 41-34, permitting an agricultural conservation easement on qualifying farmland, as defined in GS 106-737, to include a provision that provides the easement holder a right of first refusal or option to purchase the land encumbered by the easement at agricultural value. Establishes that when executed, a right of first refusal or option to purchase land at agricultural value included in an agricultural conservation easement can exist in perpetuity, run with the land, and bind all future owners of the farmland encumbered by an agricultural conservation easement. Defines agricultural conservation easement to mean a negative easement in gross restricting residential, commercial, and industrial development of land for the purpose of maintaining its agricultural production capability. Defines agricultural value to mean the value of land encumbered by an agricultural conservation easement based upon the highest and best use of the land for agricultural purposes, which value may rise and fall commensurate with the market conditions, inflation, or other valuation factors. Applies to agricultural conservation easements executed on or after the date the act becomes law.