Increase allowable amount of farmland preservation grants to nonprofit organizations.

This bill increases the maximum state funding for farmland preservation projects led by nonprofit organizations in New Jersey from 50 percent to 80 percent of acquisition costs. Sponsored by Senator John J. Burzicelli, the legislation amends existing laws to align the financial support given to nonprofits with the higher rate already available to local government units. The funds, drawn from the Garden State Farmland Preservation Trust Fund, can be used to purchase development easements or fee simple titles on farmland, with the latter requiring agricultural deed restrictions upon resale or lease. By removing the lower funding cap for nonprofits, the bill aims to expand the scope of farmland preservation initiatives managed by these organizations.