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NJ A4368
Bill
Status
2/19/2026
Primary Sponsor
Alex Sauickie
Click for details
AI Summary
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County Agriculture Development Boards (CADBs) would be authorized to establish programs to receive donated farmland and grant or lease it to new farmers who are New Jersey residents
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Commercial farm owners who donate land to a CADB program would receive a gross income tax credit equal to the lesser of the land's assessed value or $100,000
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Tax credits can be carried forward for up to four years if the full amount cannot be applied in the year awarded
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Total tax credits under the program are capped at $100 million cumulative statewide
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The Division of Taxation must submit a report within five years evaluating the program's effectiveness in incentivizing the creation of new family farms
Legislative Description
Authorizes County Agriculture Development Boards to establish program to receive and lease donated farmland to new farms, establishes gross income tax credit for farmers who donate land.
Agriculture and Natural Resources
Last Action
Introduced, Referred to Assembly Agriculture and Natural Resources Committee
2/19/2026