NJ A4795

Reallocates constitutionally dedicated Corporate Business Tax (CBT) revenues starting in Fiscal Year 2026: 62% to Green Acres Fund, 26% to Farmland Preservation Fund (reduced from 31%), 7% to Historic Preservation Fund, and a new 5% allocation to the Urban Agriculture and Horticulture Fund.

Creates the Preserve New Jersey Urban Agriculture and Horticulture Fund with an initial $25 million deposit, dedicated to acquiring and preserving land in designated urban areas for agricultural or horticultural purposes.

Authorizes the Garden State Preservation Trust to purchase fee simple titles or development easements on urban land for farming purposes, with priority given to small parcels suitable for agriculture or horticulture.

Establishes the Urban Agriculture and Horticulture Stewardship Grant Program to provide grants covering up to 90% of project costs for soil health, climate resiliency, and erosion control improvements on preserved urban farmland.

Permits the State to lease acquired urban agricultural land through competitive bidding to parties who will use it for farming, with lease revenues returned to the Urban Agriculture and Horticulture Fund.