Bill
Bill > S3279
NJ S3279
NJ S3279Revises method for appraisals of farmland to be acquired for farmland preservation purposes.
summary
Introduced
10/31/2022
10/31/2022
In Committee
11/30/2023
11/30/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Revises method for appraisals of farmland to be acquired for farmland preservation purposes.
AI Summary
This bill revises the method for appraising farmland to be acquired for farmland preservation purposes. It establishes a "Statewide Farmland Preservation Formula" to determine the value of development easements or fee simple titles to farmland, which includes factors such as analyzing fair market value appraisals of nearby agricultural lands, considering development easement values in contiguous areas, and prioritizing the preservation of important agricultural lands. The bill also provides additional guidance for appraising farmland located in the Pinelands or Highlands regions. The bill aims to increase participation in the farmland preservation program by setting standards for determining fair compensation for landowners.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (5)
Nilsa Cruz-Perez (D)*,
Jean Stanfield (R)*,
Steven Oroho (R),
Troy Singleton (D),
Douglas Steinhardt (R),
Last Action
Substituted by A4729 (2R) (on 12/21/2023)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/S3279 |
| Analysis - Statement SBA 11/30/23 | https://pub.njleg.gov/Bills/2022/S3500/3279_S2.PDF |
| Fiscal Note - Fiscal Estimate 8/3/23; 1R | https://pub.njleg.gov/Bills/2022/S3500/3279_E1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/S3500/3279_R1.HTM |
| Analysis - Statement SEG 6/8/23 | https://pub.njleg.gov/Bills/2022/S3500/3279_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/S3500/3279_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/S3500/3279_I1.PDF |
Loading...