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Bill > S2281


NJ S2281

NJ S2281
Authorizes cannabis cultivation on land receiving farmland assessment; technical assistance for cannabis businesses; and economic incentives to certain businesses operating in impact zones.


summary

Introduced
01/09/2024
In Committee
01/09/2024
Crossed Over
Passed
Dead
01/12/2026

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill permits cannabis to be cultivated on land receiving a farmland assessment; technical assistance to be provided to certain cannabis businesses in the State; and economic incentives to be provided to minority, women's, and disabled veterans' cannabis businesses operating in impact zones. Current law prohibits medical and recreational cannabis from being cultivated on land that is valued, assessed, or taxed as an agricultural or horticultural use pursuant to the Farmland Assessment Act of 1964. This bill eliminates these prohibitions. Under current law, certain persons and entities that are issued a license to operate as a cannabis cultivator, manufacturer, wholesaler, distributor, retailer, or delivery service; and property owners, developers, and operators of projects that are to be used to benefit these licensees are prohibited from receiving certain State or local economic incentives. The provisions of the bill provide that these exclusions do not apply to persons who are owners of or entities that are minority businesses, women's businesses, or disabled veterans' businesses operating in impact zones. The bill also clarifies that technical assistance provided to a person or entity under the bill is not to be considered a State or local economic incentive.

AI Summary

This bill allows cannabis to be grown on land that is assessed for farmland value, removes restrictions that previously prohibited this practice, and clarifies that technical assistance provided to cannabis businesses is not considered a state or local economic incentive. It also introduces economic incentives for certain cannabis businesses, specifically those owned by minorities, women, or disabled veterans, that operate in designated "impact zones" (areas targeted for economic development). Previously, businesses involved in the cannabis industry were generally excluded from receiving these types of state or local economic incentives, but this bill creates an exception for these specific categories of businesses operating in impact zones.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Introduced in the Senate, Referred to Senate Budget and Appropriations Committee (on 01/09/2024)

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