SENATE BUDGET AND APPROPRIATIONS COMMITTEE
STATEMENT TO
SENATE, No. 2792
STATE OF NEW JERSEY
DATED: APRIL 11, 2024
The Senate Budget and Appropriations Committee reports
favorably Senate Bill No. 2792.
This bill would appropriate $500,000 to the State Agriculture
Development Committee (SADC) for a municipal planning incentive
grant, pursuant to a program established by P.L.1999, c.180 (C.4:1C-
43.1), for farmland preservation purposes.
Of the $500,000 provided in section 1 of the bill, $200,000 is to be
provided from constitutionally dedicated corporation business tax
(CBT) revenues received pursuant to Article VIII, Section II,
paragraph 6 of the State Constitution, approved by the voters of New
Jersey in November 2014, and $300,000 is to be provided from the
“2009 Farmland Preservation Fund,” made available due to the
reallocation of monies previously appropriated to the SADC. The
“Preserve New Jersey Act,” P.L.2016, c.12 (C.13:8C-43 et seq.),
implements the constitutional dedication of CBT revenues for open
space, farmland, and historic preservation. The “Preserve New Jersey
Farmland Preservation Fund” was established pursuant to section 8 of
the “Preserve New Jersey Act.” The “2009 Farmland Preservation
Fund” was established pursuant to section 18 of the “Green Acres,
Water Supply and Floodplain Protection, and Farmland and Historic
Preservation Bond Act of 2009,” P.L.2009, c.117.
Under the bill, Washington Township, in Warren County, will
receive a “base grant” of $500,000, as specified in the bill. In
addition, this municipality would also be eligible to compete for an
additional grant from the SADC’s competitive grant fund, to be
financed with monies previously appropriated to the SADC pursuant
to P.L.2019, c.450 and P.L.2020, c.139. The maximum amount of
such competitive grant funding award would be $1 million, including
up to $500,000 in funds appropriated under P.L.2019, c.450 and up to
$500,000 in funds appropriated under P.L.2020, c.139.
The allocations and projects listed in the bill have been approved
by the SADC and the Garden State Preservation Trust.
FISCAL IMPACT:
This bill is not certified as requiring a fiscal note.