A 5403 New Jersey General Assembly · 2024-2025 Regular Session

Authorizes State Agriculture Development Committee to develop and maintain region-specific list or dedicated pool, or both, of tax and estate planners to facilitate development of installment purchase agreements for farmland preservation purposes.

This bill (A5403) authorizes New Jersey's State Agriculture Development Committee to create and maintain a region-specific list or dedicated pool of qualified tax and estate planners. It directly affects landowners selling farmland preservation rights (through development easements or fee simple purchases), the Committee, and eligible tax/estate planners. The key provision allows these planners to help structure tax-efficient installment payment agreements for farmland preservation, by assessing feasibility and drafting terms to address tax and estate concerns. This change facilitates the existing farmland preservation process without altering land acquisition rules or funding levels.
Bill status in committee 1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
Governor
Introduced Mar 6, 2025 Last action Mar 6, 2025
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Committee
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Mar 6, 2025
Introduced
Introduced in the Assembly, Referred to Assembly Commerce, Economic Development and Agriculture Committee
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Alex Sauickie
Alex Sauickie
RRepublican
NJ
12