NJ A5862

Appropriates $34 million from constitutionally dedicated corporation business tax revenues to the State Agriculture Development Committee for county planning incentive grants covering up to 80% of development easement acquisition costs on farmland

Five counties (Burlington, Cumberland, Gloucester, Monmouth, and Somerset) receive base grants of $500,000 to $1 million each, totaling $4 million, for farmland preservation projects in designated municipalities

Fifteen counties are eligible to compete for additional grants of up to $7.5 million each through a competitive grant fund, with total competitive funding capped at $30 million

Maximum grant award per county is $8.5 million (combining base grant plus competitive grant for eligible counties)

Funding comes from the "Preserve New Jersey Farmland Preservation Fund" established under the 2016 Preserve New Jersey Act, implementing the 2014 voter-approved constitutional dedication of CBT revenues for open space and farmland preservation