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NJ S4350
Bill
Status
5/12/2025
Primary Sponsor
Shirley Turner
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AI Summary
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Authorizes the Garden State Preservation Trust to acquire land in urban areas for agricultural or horticultural purposes through fee simple purchases or development easements, with lands held by the State and available for lease through competitive bidding
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Establishes the Preserve New Jersey Urban Agriculture and Horticulture Fund with an initial $25 million deposit, followed by 5% of annual dedicated Corporation Business Tax revenues starting in fiscal year 2026
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Adjusts CBT revenue allocations beginning FY2026: 62% to Green Acres Fund, 26% to Farmland Preservation Fund (reduced from 31%), 7% to Historic Preservation Fund, and 5% to the new Urban Agriculture and Horticulture Fund
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Creates the Urban Agriculture and Horticulture Stewardship Grant Program to provide grants covering up to 90% of project costs for soil health improvements, climate resiliency, and erosion control on preserved urban agricultural lands
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Expands county and municipal open space trust fund authority to include acquisition and stewardship of lands in urban areas for agricultural or horticultural purposes
Legislative Description
Changes certain allocations and amounts of constitutionally dedicated CBT revenues for Fiscal Year 2026 and thereafter; authorizes Garden State Preservation Trust and local governments to acquire lands in urban areas for agricultural or horticultural purposes.
2nd Reading in the Senate
Last Action
Reported from Senate Committee, 2nd Reading
6/9/2025