Appropriates $3,479,032 from constitutionally dedicated CBT revenues to State Agriculture Development Committee for grants to certain nonprofit organizations for farmland preservation purposes.

S4427

SENATE, No. 4427

STATE OF NEW JERSEY

222nd LEGISLATURE

�

INTRODUCED JUNE 4, 2026

Sponsored by:

Senator� SHIRLEY K. TURNER

District 15 (Hunterdon and Mercer)

Senator� DOUGLAS J. STEINHARDT

District 23 (Hunterdon, Somerset and Warren)

Co-Sponsored by:

Senators Wimberly and McKnight

SYNOPSIS

���� Appropriates $3,479,032 from constitutionally
dedicated CBT revenues to State Agriculture Development Committee for grants to
certain nonprofit organizations for farmland preservation purposes.

CURRENT VERSION OF TEXT

���� As introduced.

��

An Act

appropriating $3,479,032 from
constitutionally dedicated corporation business tax
revenues to the State Agriculture Development Committee for grants to
qualifying tax exempt nonprofit organizations for farmland preservation
purposes.

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

���� 1.� a.� Notwithstanding the
provisions of section 37 of P.L.1999, c.152 (C.13:8C-37) to the contrary, there
is appropriated to the State Agriculture Development Committee the sum of $3,479,032
from dedicated corporation business tax revenues pursuant to Article VIII,
Section II, paragraph 6 of the State Constitution in the �Preserve New Jersey
Farmland Preservation Fund,� established pursuant to section 8 of the �Preserve
New Jersey Act,� P.L.2016, c.12 (C.13:8C-50), for the purpose of providing
grants to qualifying tax exempt nonprofit organizations listed in subsection b.
of this section for up to 80 percent of the cost of acquisition of development
easements on farmland or for up to 80 percent of the cost of acquisition of fee
simple titles to farmland for resale or lease with agricultural deed
restrictions approved by the committee.�

���� b.��� The following projects
are eligible for funding with the monies appropriated pursuant to subsection a.
of this section:

Applicant

(Project)

Farm

County

Municipality

Amount
of Grant Not to Exceed

The Land Conservancy of New Jersey

Baran,

Frank, & Irene�

Warren

Blairstown Twp.

$1,344,422

The Land Conservancy of New Jersey

Mastrogiovanni, Tyler Drew�

Warren

Blairstown Twp.

$509,842

The Land Conservancy of New Jersey

RDA Properties, LLC

Warren

Blairstown Twp.

$1,363,958

The Land Conservancy of New Jersey

Dugan, Brian P., & Sueanne L.

Warren

Harmony Twp.

$260,810

���� 2.��� There is appropriated
from the General Fund to the �Preserve New Jersey Farmland Preservation Fund,�
established pursuant to section 8 of the �Preserve New Jersey Act,� P.L.2016,
c.12 (C.13:8C-50), the sum of
$3,479,032
to
implement the provisions of this act.

���� 3.��� The expenditure of the
sums appropriated by this act is subject to the provisions and conditions of
P.L.2016, c.12 (C.13:8C-43 et seq.), P.L.2009, c.117, P.L.1999, c.152
(C.13:8C-1 et seq.), and P.L.1983, c.32 (C.4:1C-11 et seq.), as appropriate.

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

STATEMENT

���� This bill would appropriate $3,479,032
from constitutionally dedicated corporation business tax revenues to the State
Agriculture Development Committee (SADC) for farmland preservation purposes.�
Specifically, the bill would appropriate funds for grants to one qualifying tax
exempt nonprofit organization, the Land Conservancy of New Jersey, for projects
at four farms.�

���� The provisions of section 37
of P.L.1999, c.152 (C.13:8C-37) state the grants provided by the SADC for
farmland preservation purposes are for up to 50 percent of the cost of
acquisition of development easements on farmland for farmland preservation
purposes, or up to 50 percent of the cost of acquisition of fee simple titles
to farmland for resale or lease with agricultural deed restrictions approved by
the SADC.� This bill would allow the grants provided by the SADC for farmland
preservation purposes to cover up to 80 percent of the cost of acquisition of
development easements on farmland for farmland preservation purposes, or up to 80
percent of the cost of acquisition of fee simple titles to farmland for resale
or lease with agricultural deed restrictions approved by the SADC.

���� The funding in this bill is
provided from constitutionally dedicated corporation business tax (CBT)
revenues pursuant to Article VIII, Section II, paragraph 6 of the State
Constitution, approved by the voters of the State in November 2014.� The
�Preserve New Jersey Act,� P.L.2016, c.12 (C.13:8C-43 et seq.), implements the
constitutional dedication of CBT revenues for open space, farmland, and
historic preservation.� The �Preserve New Jersey Farmland Preservation Fund�
was established pursuant to section 8 of the �Preserve New Jersey Act.�

���� The allocations and projects
listed in this bill have been approved by the SADC and the Garden State
Preservation Trust.