Bill > A4627

This bill extends the expiration date for a special appraisal process in the Green Acres and farmland preservation programs from June 30, 2024, to June 30, 2029, specifically for lands located in the Highlands Region. The bill modifies how land values are determined for acquisition purposes by requiring appraisals that consider both current zoning and environmental regulations and those in effect on January 1, 2004, using the higher of the two values as the basis for negotiation with landowners. Additionally, the bill creates a new Preserve New Jersey Highlands Preservation Fund, which will receive $5 million from the Green Acres Fund and $2.5 million from the Farmland Preservation Fund annually. These funds will be used for land acquisition, farmland preservation, and as a state match for federal Highlands Conservation Act funding. The bill also establishes a new watershed property municipal aid program to provide financial support to Highlands Region municipalities that host watershed lands, with the aid amount based on the per-acre rate of existing watershed moratorium offset aid. The overall goal is to support land preservation, environmental protection, and municipal financial stability in the Highlands Region.

Agriculture and Natural Resources

https://www.njleg.state.nj.us/bill-search/2024/A4627