Bill Text: NJ S2788 | 2024-2025 | Regular Session | Introduced
Bill Title: Appropriates $128.241 million from constitutionally dedicated CBT revenues to State Agriculture Development Committee for farmland preservation purposes.
Spectrum: Bipartisan Bill
Status: (Introduced) 2024-04-11 - Reported from Senate Committee, 2nd Reading [S2788 Detail]
Download: New_Jersey-2024-S2788-Introduced.html
Sponsored by:
Senator NILSA I. CRUZ-PEREZ
District 5 (Camden and Gloucester)
Senator SHIRLEY K. TURNER
District 15 (Hunterdon and Mercer)
SYNOPSIS
Appropriates $128.241 million from constitutionally dedicated CBT revenues to State Agriculture Development Committee for farmland preservation purposes.
CURRENT VERSION OF TEXT
As introduced.
An Act appropriating $128.241 million from various farmland preservation funds to the State Agriculture Development Committee for farmland preservation purposes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. There is appropriated to the State Agriculture Development Committee the sum of $115,091,000 from corporation business tax revenues dedicated pursuant to Article VIII, Section II, paragraph 6 of the State Constitution and available in the "Preserve New Jersey Farmland Preservation Fund," established pursuant to section 8 of the "Preserve New Jersey Act," P.L.2016, c.12 (C.13:8C-50), to pay the cost of acquisition by the committee of development easements on, or fee simple titles to, farmland, to provide grants to counties and municipalities for up to 80 percent of the cost of acquisition of fee simple titles to farmland, and to provide grants to qualifying tax-exempt non-profit organizations for up to 50 percent of the cost of acquisition of fee simple titles to farmland, for farmland preservation purposes for projects approved as eligible for such funding pursuant to the "Agricultural Retention and Development Act," P.L.1983, c.32 (C.4:1C-11 et seq.), the "Garden State Preservation Trust Act," P.L.1999, c.152 (C.13:8C-1 et seq.), and the "Preserve New Jersey Act," P.L.2016, c.12 (C.13:8C-43 et seq.). Of the amount appropriated pursuant to this subsection, the sum of $7,702,000 is available due to interest earnings on the dedicated corporation business tax revenues pursuant to Article VIII, Section II, paragraph 6 of the State Constitution.
b. Any farmland acquired in fee simple with monies appropriated pursuant to this section shall be offered for resale or lease with agricultural deed restrictions approved by the committee.
2. There is appropriated from the "Preserve New Jersey Farmland Preservation Fund," established pursuant to section 8 of the "Preserve New Jersey Act," P.L.2016, c.12 (C.13:8C-50), from the "2009 Farmland Preservation Fund," 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, from the "2007 Farmland Preservation Fund," established pursuant to section 18 of the "Green Acres, Farmland, Blue Acres, and Historic Preservation Bond Act of 2007," P.L.2007, c.119, from the "Garden State Farmland Preservation Trust Fund," established pursuant to section 20 of P.L.1999, c.152 (C.13:8C-20), from the "1999 Open Space Fund," established pursuant to the "Open Space - Local Match Program of the Fiscal Year 1999 annual appropriations act," P.L.1998, c.45, from the "1995 Farmland Preservation Fund," established pursuant to section 25 of the "Green Acres, Farmland and Historic Preservation, and Blue Acres Bond Act of 1995," P.L.1995, c.204, from the "1992 Farmland Preservation Fund," established pursuant to section 24 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, from the "1989 Farmland Preservation Fund," established pursuant to section 22 of the "Open Space Preservation Bond Act of 1989," P.L.1989, c.183, and from the "Farmland Preservation Fund," established pursuant to section 5 of the "Farmland Preservation Bond Act of 1981," P.L.1981, c.276, to the State Agriculture Development Committee, such sums from any additional proceeds which may become available by the effective date of this act due to the lease or conveyance of land or development easements acquired or funded by the committee, for the purpose of providing for the cost of acquisition, by the committee, of development easements and fee simple titles to farmland for farmland preservation purposes pursuant to subsection a. of section 1 of this act.
Any farmland acquired in fee simple with monies appropriated pursuant to this section shall be offered for resale or lease with agricultural deed restrictions approved by the committee.
3. There is appropriated to the State Agriculture Development Committee the sum of $13,150,000 from the "Preserve New Jersey Farmland Preservation Fund," established pursuant to section 8 of the "Preserve New Jersey Act," P.L.2016, c.12 (C.13:8C-50), as follows:
a. $12,000,000 for the purpose of providing funding for organizational, administrative, and other work and services, including salaries, equipment, materials, and services necessary to administer the applicable provisions of P.L.2016, c.12 (C.13:8C-43 et seq.);
b. $1,000,000 for the purpose of providing funding for costs associated with the acquisition, by the committee, of development easements on farmland, including, but not limited to, appraisal, survey, and title costs; and
c. $150,000 for the purpose of providing funding for costs associated with legal advice and representation in connection with the committee's enforcement of development easements acquired for farmland preservation purposes pursuant to P.L.2016, c.12 (C.13:8C-43 et seq.).
4. There is appropriated
from the General Fund to the "Preserve New Jersey Farmland Preservation Fund,"
established pursuant to section 8 of the "Preserve New Jersey Act," P.L.2016,
c.12 (C.13:8C-50), the sum of $120,539,000 to implement the provisions of this
act.
5. The expenditure of the sums approved by this act is subject to the provisions and conditions of P.L.2016, c.12 (C.13:8C-43 et seq.), P.L.2009, c.117, P.L.2007, c.119, P.L.1999, c.152 (C.13:8C-1 et seq.), P.L.1998, c.45, P.L.1995, c.204, P.L.1992, c.88, P.L.1989, c.183, P.L.1983, c.32 (C.4:1C-11 et seq.), and P.L.1981, c.276, as appropriate.
6. This act shall take effect immediately.
STATEMENT
This bill appropriates $128.241 million from constitutionally dedicated CBT revenues to the State Agriculture Development Committee (SADC) for certain farmland preservation purposes.
Of the funding provided by the bill, $115.091 million is appropriated to the SADC to pay the cost of acquisition by the SADC of development easements on, or fee simple titles to, farmland, to provide grants to counties and municipalities for up to 80 percent of the cost of acquisition of fee simple titles to farmland, and to provide grants to qualifying tax exempt nonprofit organizations for up to 50 percent of the cost of acquisition of fee simple titles to farmland, for farmland preservation purposes for projects approved as eligible for such funding pursuant to: the "Agricultural Retention and Development Act"; the "Garden State Preservation Trust Act"; and the "Preserve New Jersey Act."
The bill also appropriates to the SADC such sums from any additional proceeds which may become available, by the effective date of the bill, due to the lease or conveyance of farmland previously acquired in fee simple by the SADC, for the purpose of providing for the cost of acquisition by the SADC of development easements and fee simple titles to farmland for farmland preservation purposes.
The appropriations in this bill for the acquisition of fee simple titles and development easements to farmland have been approved by the SADC and the Garden State Preservation Trust.
This bill also appropriates from the "Preserve New Jersey Farmland Preservation Fund" to the SADC: $12 million for organizational, administrative, and other work and services, including salaries, equipment, materials, and services necessary to administer the applicable provisions of the "Preserve New Jersey Act"; $1 million for costs associated with the acquisition of farmland development easements, including appraisal, survey, and title costs; and $150,000 for the costs associated with legal advice and representation in connection with the committee's enforcement of development easements acquired for farmland preservation purposes pursuant to P.L.2016, c.12 (C.13:8C-43 et seq.).
The "Preserve New Jersey Act," P.L.2016, c.12 (C.13:8C-43 et seq.), implements the constitutional dedication of CBT revenues pursuant to Article VIII, Section II, paragraph 6 of the State Constitution, approved by the voters of the State in November 2014, 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 funding in this bill is from these constitutionally dedicated CBT revenues.
