NJ A4046

Extends initial and renewal terms from 5 years to 7 years for leases between local governments and nonprofit organizations for recreation and conservation land purposes.

Applies to agreements where charitable conservancies or tax-exempt nonprofits acquire and hold real property on behalf of municipalities, counties, or other local government units.

Allows longer initial or renewal terms of up to 25 years with good cause shown under existing Department of Environmental Protection regulations.

Permits lease terms exceeding 25 years with approval from both the Commissioner of Environmental Protection and the State House Commission.

Codifies existing regulatory provisions into statute while extending the standard lease duration by two years.