NJ S2349

Allocates $7.5 million annually from constitutionally dedicated Corporation Business Tax (CBT) revenue to the Highlands Water Protection and Planning Council for land preservation in New Jersey's Highlands Region

Redirects funding from existing allocations: $5 million from the Preserve New Jersey Green Acres Fund and $2.5 million from the Preserve New Jersey Farmland Preservation Fund into a new "Preserve New Jersey Highlands Preservation Fund"

Divides the $7.5 million three ways: $2.5 million for the Highlands Open Space Partnership Funding program (grants to local governments and nonprofits), $2.5 million for acquiring Highlands development credits, and $2.5 million for farmland preservation not qualifying for State Agriculture Development Committee funding

Establishes priority criteria for land acquisition including special environmental zones, high conservation or agricultural preservation areas, and properties that improve connectivity to existing preserved lands

Prohibits funding for land requiring condemnation, containing significant environmental contamination, or already preserved by government or nonprofit entities