New Jersey Assembly Bill A5862

New Jersey 2024-2025 Regular Session

• Introduced: 6/19/25
• Refer: 6/19/25
• Report Pass: 6/19/25

Caption

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

Impact

The bill's passage would significantly increase funding resources for counties engaged in preserving farmland through development easements, thereby directly impacting local agricultural practices and land use strategies. The funds are intended not only to support existing efforts but also to potentially foster new projects that enhance agricultural sustainability and manage land more effectively. This could lead to better land management practices and strengthen local agriculture economies, ultimately contributing to food security initiatives within the state.

Summary

Assembly Bill A5862 proposes the appropriation of $34 million from constitutionally dedicated corporation business tax (CBT) revenues to the State Agriculture Development Committee (SADC) to fund planning incentive grants aimed at farmland preservation. This initiative aims to support counties in acquiring development easements on farmland, with the state covering up to 80 percent of associated acquisition costs. The funding is part of broader efforts following the 'Preserve New Jersey Act' which aims to enhance open space and farmland preservation across the state.

Contention

Despite its potential benefits, A5862 may encounter legislative scrutiny about the effectiveness of such grants and concerns over the allocation of state funds. Stakeholders might debate the efficiency of the funding mechanism and the criteria used in determining eligible counties and projects. The maximum grant amounts, which combine both base and competitive grant funding, may also be the subject of contention, as they dictate how resources are distributed among diverse counties with differing levels of agricultural development.