Appropriates $34 million from constitutionally dedicated CBT revenues to State Agriculture Development Committee for county planning incentive grants for farmland preservation purposes.

New Jersey Assembly Bill A5862 appropriates $34 million from constitutionally dedicated corporation business tax (CBT) revenues to fund farmland preservation. The funds will provide planning incentive grants to eligible counties - specifically five counties receiving base grants of $500,000-$1 million, plus 10 additional counties eligible for competitive grants - to cover up to 80% of costs for permanent land protections (development easements) on farmland. The grants are administered through the State Agriculture Development Committee under the Preserve New Jersey Farmland Preservation Fund, with a county’s maximum total award capped at $8.5 million. This bill directly affects participating counties in agricultural areas by enabling local governments to preserve farmland through permanent land protections.