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NJ A6033
Bill
Status
11/17/2025
Primary Sponsor
Alex Sauickie
Click for details
AI Summary
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Authorizes County Agriculture Development Boards (CADBs) to establish programs to receive donated farmland from commercial farm owners and grant or lease it to new farmers residing in New Jersey
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Creates a gross income tax credit for farmers who donate land to CADBs, with the credit amount equal to the lesser of the land's assessed value or $100,000 per donation
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Caps the total value of all tax credits issued under this program at $100 million statewide
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Allows unused tax credits to be carried forward for up to four taxable years following the year the credit was allowed
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Requires the Division of Taxation to submit a report within five years evaluating the effectiveness of the tax credit in incentivizing the creation of new family farms
Legislative Description
Authorizes County Agriculture Development Boards to establish program to receive and lease donated farmland to new farms, establishes gross income tax credit for farmers who donate land.
Commerce, Economic Development and Agriculture
Last Action
Introduced, Referred to Assembly Commerce, Economic Development and Agriculture Committee
11/17/2025