NJ S2161

Increases payments in lieu of taxes (PILOTs) to New Jersey municipalities for State-owned or nonprofit-owned recreation and conservation lands by 50-100 percent depending on the tier.

Raises per-acre rates for municipalities with less than 20 percent open space from $2 to $3, and from $5 to $7.50 for those with 20-40 percent open space.

Increases per-acre payments from $10 to $15 for municipalities with 40-60 percent open space lands, and from $20 to $40 for those with 60 percent or more.

Applies the increased PILOT rates to lands acquired using constitutionally dedicated corporation business tax revenues (after 13 years) and to lands acquired with other funding sources.

Payments are made annually on October 1 from the General Fund and must be used by municipalities for the same purposes as property tax revenue.