Point Reyes Farmland Protection Act of 1999

Point Reyes Farmland Protection Act of 1999 - Authorizes the Secretary of the Interior to make grants to eligible entities to provide the Federal share of the cost of purchasing permanent conservation easements on eligible lands (specified parcels of land in Marin and Sonoma Counties in California) from willing sellers for the purpose of preserving agricultural lands. Defines "eligible entity" to mean a State or local government agency or a nonprofit organization having substantial experience in the holding, monitoring, and managing of conservation easements on eligible lands, including the Marin Agricultural Land Trust, the Sonoma County Agricultural Preservation and Open Space District, and the Sonoma Land Trust.

Vests an eligible entity's rights and obligations under an easement acquired using funds provided by the Secretary under this Act in the United States if the entity ceases to exist or ceases to be a nonprofit organization.

Prohibits: (1) any interest in eligible lands from being acquired with such funds without the owner's consent; and (2) the use of such funds to acquire land in fee title.

Limits the Federal cost share for acquiring a conservation easement in eligible lands to one half of the total costs of such acquisition. Waives such matching requirement for an eligible entity who currently holds conservation easements on eligible lands until such time as grant funds are provided to that entity in an amount equal to the fair market value of such easements.

Authorizes appropriations.