NJ S1348

Creates a nine-member Farmland Assessment Review Commission within the Department of Agriculture to annually review the farmland assessment program and recommend changes for consistent statewide application and enforcement

Commission must evaluate why over 37,000 properties currently receive farmland assessment benefits, track participation rates by county and municipality, and consider whether to limit total program participation or benefit levels

Requires the commission to review site-related documentation and sales data for all farmland-assessed properties, with properties having missing, incomplete, or fraudulent documentation losing assessment privileges and repaying benefits within 90 days

Commission membership includes the Secretary of Agriculture and Division of Taxation Director (ex officio), plus seven appointed members representing regional farmland owners/operators, urban/overburdened communities, and local tax assessors

Annual reports must be submitted to the Governor, Legislature, and relevant agencies, with the Senate Economic Growth Committee and Assembly Commerce Committee required to meet and recommend legislation based on commission findings