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A4757 • 2026

Authorizes counties and County Agriculture Development Boards to transfer farmland preservation installment purchases to State Agriculture Development Committee.

Authorizes counties and County Agriculture Development Boards to transfer farmland preservation installment purchases to State Agriculture Development Committee.

Agriculture
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Sauickie, Alex
Last action
2026-03-19
Official status
Introduced, Referred to Assembly Agriculture and Natural Resources Committee
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Authorizes counties and County Agriculture Development Boards to transfer farmland preservation installment purchases to State Agriculture Development Committee.

Authorizes counties and County Agriculture Development Boards to transfer farmland preservation installment purchases to State Agriculture Development Committee.

What This Bill Does

  • Authorizes counties and County Agriculture Development Boards to transfer farmland preservation installment purchases to State Agriculture Development Committee.
  • Topic: Agriculture and Natural Resources Fiscal note: This bill has not been certified by OLS for a fiscal note.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-03-19 New Jersey Legislature

    Introduced, Referred to Assembly Agriculture and Natural Resources Committee

Official Summary Text

Authorizes counties and County Agriculture Development Boards to transfer farmland preservation installment purchases to State Agriculture Development Committee.
Topic:
Agriculture and Natural Resources
Fiscal note:
This bill has not been certified by OLS for a fiscal note.

Current Bill Text

Read the full stored bill text 
A4757

ASSEMBLY, No. 4757

STATE OF NEW JERSEY

222nd LEGISLATURE

�

INTRODUCED MARCH 19, 2026

Sponsored by:

Assemblyman� ALEX SAUICKIE

District 12 (Burlington, Middlesex, Monmouth and Ocean)

SYNOPSIS

���� Authorizes counties and County Agriculture
Development Boards to transfer farmland preservation installment purchases to
State Agriculture Development Committee.

CURRENT VERSION OF TEXT

���� As introduced.

��

An Act
concerning installment purchases of preserved farmland
and supplementing P.L.1983, c.32 (C.4:1C-11 et seq.).

����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:

���� 1.��� In the event a county or
board enters into an installment purchase agreement with a landowner for a
development easement on, or the acquisition of, farmland pursuant a farmland
preservation plan prepared and adopted by the county or pursuant to the provisions
of the "Agriculture Retention and Development Act," P.L.1983, c.32
(C.4:1C-11 et al.), the board or county may transfer the installment purchase
agreement to the committee, with the committee�s consent, prior to the end of
the term of the agreement.� The county or board shall collaborate with the
committee regarding the issuance of funds in order to effectuate the terms of
the installment purchase agreement.

���� 2. This act shall take effect
immediately.

STATEMENT

���� This bill would authorize a
county or County Agriculture Development Board (CADB) to transfer installment
purchase agreements of land acquired for farmland preservation purposes to the
State Agriculture Development Committee (SADC).�

���� Currently, State law allows
counties and CADBs to enter into installment purchase agreements with a farm
landowner for a development easement or land acquisition in exchange for
payment over a certain period of time.� Installment purchase agreements generally
provide that each payment be separated into components of principal and
interest.� However, an installment purchase agreement may also be structured to
provide a balloon payment of the principal at the end of the term of the
agreement, with semiannual payments of interest on the principal outstanding.�
In addition, if the transaction is structured through an installment agreement
with a government entity, the interest may be exempt from federal and State
income taxes.� Furthermore, installment agreements permit the stretching of
available government farmland preservation funds.�

���� If the SADC agrees, the bill
would allow the SADC to handle the management of installment purchase
agreements made on behalf of counties and CADBs for preserved farmland.�