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NJ S4840
Bill
Status
11/10/2025
Primary Sponsor
Paul Moriarty
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AI Summary
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Increases State payments in lieu of taxes (PILOTs) to municipalities for State-owned or nonprofit-owned recreation and conservation lands, with rates varying by how much of the municipality consists of such lands
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Raises per-acre PILOT rates as follows: from $2 to $3 for municipalities with less than 20% open space; from $5 to $7.50 for 20-40% open space; from $10 to $15 for 40-60% open space; and from $20 to $40 for municipalities with 60% or more open space
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Applies the increased rates to lands acquired using constitutionally dedicated corporation business tax revenues (beginning 13 years after acquisition) as well as lands acquired through other funding sources
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Payments must come from the State General Fund, not from constitutionally dedicated moneys, and municipalities must use received funds for the same purposes as property tax revenue
Legislative Description
Increases amounts of certain payments in lieu of taxes paid for lands owned by State or nonprofit organization for recreation and conservation purposes.
Environment and Energy
Last Action
Introduced in the Senate, Referred to Senate Environment and Energy Committee
11/10/2025