Open Space and Farmland Preservation Act - Amends the Farm Security Act of 1985 to direct the Secretary of Agriculture to reserve at least 15% of farmland protection program funds for grants to support cooperative efforts by an eligible state agency, county, or other eligible entity to purchase conservation easements and other interests in eligible land, whose title shall be held by an eligible entity rather than the United States.
Provides with respect to cost sharing that: (1) the federal share of the purchase price of a conservation easement or other interest in eligible land shall not exceed 25%; and (2) the state agency, county, and other eligible entities involved in the purchase shall each contribute 25% of the purchase price.
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