Changes certain allocations and amounts of constitutionally dedicated CBT revenues for Fiscal Year 2026 and thereafter; authorizes Garden State Preservation Trust and local governments to acquire lands in urban areas for agricultural or horticultural purposes.

This bill changes how constitutionally dedicated Corporation Business Tax (CBT) revenues are allocated for fiscal year 2026 and beyond. It directs 5% of these revenues annually to a new Preserve New Jersey Urban Agriculture and Horticulture Fund, with an initial $25 million deposit upon enactment. The bill authorizes the Garden State Preservation Trust and local governments to acquire urban land for agricultural or horticultural purposes through purchase or development easements. It also establishes a grant program to support stewardship activities like soil health improvements on land acquired for these purposes.