This bill mandates the establishment of a Farm Vitality Planning Reimbursement Grant Program by the Department of Agriculture, aimed at reimbursing owners and operators of farms in New Jersey for eligible costs associated with developing and implementing plans that promote long-term farm viability. The program will provide grants of up to $7,500, covering up to 75% of the total eligible costs incurred. Eligible plans include various business strategies, ownership transition plans, and maintenance plans for preserved farmland. The bill specifies that any remaining costs must be financed by the farm owners through monetary means rather than in-kind contributions.

The bill outlines the types of costs that are eligible for reimbursement, such as fees for professional services from accountants, consultants, attorneys, and mediators, while explicitly excluding costs related to capital improvements, conservation plans, taxes, and travel expenses. Grants will be awarded on a first-come, first-served basis, contingent upon the availability of funds, and applicants must provide verifiable documentation of their eligible costs. An initial appropriation of $1 million from the General Fund is allocated to support this program, and the Secretary of Agriculture is required to submit annual reports to the Governor and Legislature detailing the program's implementation and effectiveness, along with recommendations for its future continuation and funding needs.