Appropriates $3,750,990 from constitutionally dedicated CBT revenues to State Agriculture Development Committee for grants to certain nonprofit organizations for farmland preservation purposes.

This bill appropriates $3,750,990 from constitutionally dedicated corporation business tax revenues to the State Agriculture Development Committee for farmland preservation grants. The funds will cover up to 50% of the cost for nonprofit organizations to acquire development easements or fee simple ownership of farmland, ensuring the land remains available for agricultural use under approved restrictions. The grants specifically support eight farmland preservation projects managed by the Land Conservancy of New Jersey in Warren and Sussex counties, using funds from the Preserve New Jersey Farmland Preservation Fund established by state law.