NJ S5007

Requires the Garden State Preservation Trust to conduct a comprehensive audit of state land preservation programs within six months, including Green Acres, Blue Acres, farmland preservation, and historic property preservation programs

Authorizes local governments and nonprofit organizations receiving farmland preservation grants to use up to 3% of the property's development easement or fee simple value for administrative expenses, covering costs like landowner outreach, negotiations, and document preparation

Mandates that farmland preservation funds allocated to local governments must be returned to the Preserve New Jersey Farmland Preservation Fund if not committed to an active transaction within 18 months of allocation

Appropriates $150,000 from the General Fund to the Garden State Preservation Trust to implement the audit requirement

Requires the audit report to be submitted to the Governor and Legislature and published on the Trust's website