SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 2788

STATE OF NEW JERSEY

DATED:  APRIL 11, 2024

      The Senate Budget and Appropriations Committee reports favorably Senate Bill No. 2788.

      This bill appropriates $128.241 million from constitutionally dedicated CBT revenues to the State Agriculture Development Committee (SADC) for certain farmland preservation purposes.

      Of the funding provided by the bill, $115.091 million is appropriated to the SADC to pay the cost of acquisition by the SADC of development easements on, or fee simple titles to, farmland, to provide grants to counties and municipalities for up to 80 percent of the cost of acquisition of fee simple titles to farmland, and to provide grants to qualifying tax exempt nonprofit organizations for up to 50 percent of the cost of acquisition of fee simple titles to farmland, for farmland preservation purposes for projects approved as eligible for such funding pursuant to:  the “Agricultural Retention and Development Act”; the “Garden State Preservation Trust Act”; and the “Preserve New Jersey Act.”

      The bill also appropriates to the SADC such sums from any additional proceeds which may become available, by the effective date of the bill, due to the lease or conveyance of farmland previously acquired in fee simple by the SADC, for the purpose of providing for the cost of acquisition by the SADC of development easements and fee simple titles to farmland for farmland preservation purposes.

      The appropriations in this bill for the acquisition of fee simple titles and development easements to farmland have been approved by the SADC and the Garden State Preservation Trust.

      This bill also appropriates from the “Preserve New Jersey Farmland Preservation Fund” to the SADC: $12 million for organizational, administrative, and other work and services, including salaries, equipment, materials, and services necessary to administer the applicable provisions of the “Preserve New Jersey Act”; $1 million for costs associated with the acquisition of farmland development easements, including appraisal, survey, and title costs; and $150,000 for the costs associated with legal advice and representation in connection with the committee’s enforcement of development easements acquired for farmland preservation purposes pursuant to P.L.2016, c.12 (C.13:8C-43 et seq.).

      The “Preserve New Jersey Act,” P.L.2016, c.12 (C.13:8C-43 et seq.), implements the constitutional dedication of CBT revenues pursuant to Article VIII, Section II, paragraph 6 of the State Constitution, approved by the voters of the State in November 2014, for open space, farmland, and historic preservation.  The “Preserve New Jersey Farmland Preservation Fund” was established pursuant to section 8 of the “Preserve New Jersey Act.”  The funding in this bill is from these constitutionally dedicated CBT revenues.

FISCAL IMPACT:

      This bill is not certified as requiring a fiscal note.