S4551

An Act appropriating $3,750,990 from constitutionally dedicated corporation business tax revenues to the State Agriculture Development Committee for grants to qualifying tax exempt nonprofit organizations for farmland preservation purposes.

Be It Enacted by the Senate and General Assembly of the State of New Jersey:

1. a. There is appropriated to the State Agriculture Development Committee the sum of $3,750,990 for the purpose of providing grants to qualifying tax exempt nonprofit organizations, as listed in subsections b. and c. of this section, for up to 50 percent of the cost of acquisition of development easements on farmland or for up to 50 percent of the cost of acquisition of fee simple titles to farmland for resale or lease with agricultural deed restrictions approved by the committee, as follows:

(1) $3,561,350 from dedicated corporation business tax revenues pursuant to Article VIII, Section II, paragraph 6 of the State Constitution in the “Preserve New Jersey Farmland Preservation Fund,” established pursuant to section 8 of the “Preserve New Jersey Act,” P.L.2016, c.12 (C.13:8C-50), made available due to the reallocation of previously appropriated monies; and

(2) $189,640 from dedicated corporation business tax revenues pursuant to Article VIII, Section II, paragraph 6 of the State Constitution in the “Preserve New Jersey Farmland Preservation Fund,” established pursuant to section 8 of the “Preserve New Jersey Act,” P.L.2016, c.12 (C.13:8C-50).

b. The following projects are eligible for funding with the monies appropriated pursuant to subsection a. of this section:

Applicant (Project)	Farm	County	Municipality	Amount of Grant Not to Exceed
The Land Conservancy of New Jersey	Carson, Daniel, & Whitney #1	Warren	Frelinghuysen Twp.	$2,000,100

The Land Conservancy of New Jersey	Carson, Daniel, & Whitney #2	Warren	Frelinghuysen Twp.	$409,740

The Land Conservancy of New Jersey	Carson, Daniel, & Whitney #3	Warren	Frelinghuysen Twp.	$251,400

The Land Conservancy of New Jersey	Harrison, Randy S., & Joann	Warren	Washington Twp.	$177,450
The Land Conservancy of New Jersey	Good Springs LLC	Warren	Franklin Twp.	$320,600

c. (1) Of the monies appropriated to the State Agricultural Development Committee pursuant to subsection a. of this section, $591,700 shall be utilized to provide grants to the qualifying tax exempt nonprofit organizations listed in paragraph (2) of this subsection for up to 50 percent of the cost of acquisition of development easements on farmland or for up to 50 percent of the cost of acquisition of fee simple titles to farmland for resale or lease with agricultural deed restrictions approved by the committee. Any unused monies provided as grants to the qualifying tax exempt nonprofit organizations listed in paragraph (2) of this subsection may be utilized by the qualifying tax exempt nonprofit organization for allowable project costs.

(2) The following projects are eligible for funding with the monies appropriated pursuant to subsection a. of this section, in the amount and for the purposes of paragraph (1) of this subsection:

Applicant (Project)	Farm	County	Municipality
The Land Conservancy of New Jersey	Hubbard, Adam	Sussex	Wantage Twp.

The Land Conservancy of New Jersey	Vosper, Michelle Marie	Sussex	Stillwater Twp.

The Land Conservancy of New Jersey	526 Delaware Rd. LLC	Warren	Blairstown Twp.

2. The expenditure of the sums appropriated by this act is subject to the provisions and conditions of P.L.2016, c.12 (C.13:8C-43 et seq.), P.L.2009, c.117, P.L.1999, c.152 (C.13:8C-1 et seq.), and P.L.1983, c.32 (C.4:1C-11 et seq.), as appropriate.

3. This act shall take effect immediately.

STATEMENT

This bill would appropriate $3,750,990 to the State Agriculture Development Committee (SADC) for farmland preservation purposes. Specifically, the bill would appropriate funds for grants to one qualifying tax exempt nonprofit organization, the Land Conservancy of New Jersey, for projects at eight farms. The grants provided by the bill are for up to 50 percent of the cost of acquisition of development easements on farmland for farmland preservation purposes, or up to 50 percent of the cost of acquisition of fee simple titles to farmland for resale or lease with agricultural deed restrictions approved by the SADC.

The funding in this bill is provided from constitutionally dedicated corporation business tax (CBT) revenues pursuant to Article VIII, Section II, paragraph 6 of the State Constitution, approved by the voters of the State in November 2014. The “Preserve New Jersey Act,” P.L.2016, c.12 (C.13:8C-43 et seq.), implements the constitutional dedication of CBT revenues 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.” Of the total appropriated, $3,561,350 is made available due to the reallocation of previously appropriated monies.

Of the total appropriated, $591,700 is to be utilized to provide grants to one qualifying tax exempt nonprofit organization, the Land Conservancy of New Jersey, for projects at three farms that were previously funded in fiscal year 2024.

The allocations and projects listed in this bill have been approved by the SADC and the Garden State Preservation Trust.