SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 4566

STATE OF NEW JERSEY

DATED:  JUNE 9, 2025

      The Senate Budget and Appropriations Committee reports favorably Senate Bill No. 4566.

      As reported, this bill would appropriate $500,000 to the State Agriculture Development Committee (SADC) for a municipal planning incentive grant, pursuant to a program established by P.L.1999, c.180 (C.4:1C-43.1), for farmland preservation purposes.

      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.”

      Under the bill, Oldmans Township, in Salem County, will receive a “base grant” of $500,000, as specified in the bill.  In addition, this municipality would also be eligible to compete for an additional grant from the SADC’s competitive grant fund, to be financed with monies previously appropriated to the SADC pursuant to P.L.2019, c.450 and P.L.2020, c.139.  The maximum amount of such competitive grant funding award would be $1 million, including up to $500,000 in funds appropriated under P.L.2019, c.450 and up to $500,000 in funds appropriated under P.L.2020, c.139. Therefore, the bill allows the municipality to receive up to $1.5 million in funding through both the base grant and eligible competitive grants.

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

FISCAL IMPACT:

      This bill is not certified as requiring a fiscal note.