Bill > S3466

This bill extends and modifies several provisions related to land preservation and watershed protection in New Jersey, with a particular focus on the Highlands Region. The bill amends existing laws to extend the special appraisal process for land acquisitions in the Highlands Region through June 30, 2029, which allows landowners to receive appraisals based on both current zoning and environmental regulations and those in effect on January 1, 2004, using whichever value is higher. The bill also establishes a new mechanism to provide financial aid to municipalities within the Highlands Region that host watershed lands but do not currently receive watershed moratorium offset aid. This aid will be distributed at the same per-acre rate as existing watershed offset aid. Additionally, the bill modifies rules about the use of Pinelands Development Credits in land preservation efforts, requiring that such credits be permanently retired when land is acquired for conservation or farmland preservation purposes. The legislation aims to support land preservation efforts, provide economic support to municipalities in environmentally sensitive regions, and ensure fair compensation for landowners while protecting critical natural resources in New Jersey.

Agriculture and Natural Resources

https://www.njleg.state.nj.us/bill-search/2024/S3466