Allows for exclusion of certain properties from Highlands preservation area.

New Jersey Assembly Bill A4240 (introduced May 2, 2024) allows owners of properties within the Highlands preservation area to request removal under specific conditions. It applies only to properties continuously owned since the 2004 Highlands Act by the current owner or their immediate family. If the state rejects a sale offer due to lack of funds to purchase at the 2004 fair market value (based on land use zoning and environmental regulations), the owner can submit a written request with state documentation of insufficient funds. Upon approval, the property is exempt from preservation regulations, treated like standard planning area property, and the exclusion must be recorded on the deed and official maps. The bill takes effect August 10, 2024.