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Bill > S346
NJ S346
NJ S346Extends for five years expiration date of special appraisal process for Green Acres program and farmland preservation program for lands in Highlands Region.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill extends the expiration date of the special appraisal process provided by law for State-funded land acquisitions under the Green Acres program and the farmland preservation program from June 30, 2024 to June 30, 2029 for lands located in the Highlands Region. The term "special appraisal process" refers to the process in which the State or other eligible participants are currently required by law to conduct two appraisals of lands that are proposed for acquisition, one of which is based on the property value on the proposed acquisition date, the other based on the value of the property as of January 1, 2004. The higher of the two values is used as the basis of negotiation with the landowner when determining the property's final acquisition price.
AI Summary
This bill extends the expiration date of a special appraisal process used for land acquisitions under New Jersey's Green Acres program (for recreation and conservation) and its farmland preservation program. This special appraisal process, which was set to expire on June 30, 2024, will now remain in effect until June 30, 2029, specifically for lands located within the Highlands Region. The special appraisal process requires two appraisals of the land: one based on its value at the time of acquisition and another based on its value as of January 1, 2004. The higher of these two values is then used as the basis for negotiating the final purchase price with the landowner. This extension aims to continue a specific valuation method for land preservation efforts in the environmentally sensitive Highlands Region.
Committee Categories
Agriculture and Natural Resources
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Environment and Energy Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S346 |
| BillText | https://pub.njleg.gov/Bills/2026/S0500/346_I1.HTM |
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