This bill appropriates a total of $500,000 to the State Agriculture Development Committee (SADC) for municipal planning incentive grants aimed at farmland preservation. The funding is sourced from two specific allocations: $200,000 from constitutionally dedicated corporation business tax (CBT) revenues and $300,000 from the 2009 Farmland Preservation Fund, which has been made available through the reallocation of previously appropriated funds. The bill specifies that Washington Township in Warren County is eligible for this funding, which is part of a program established under P.L.1999, c.180 (C.4:1C-43.1).

Additionally, the bill allows Washington Township to compete for an extra grant from the SADC's competitive grant fund, with a maximum potential award of $1 million. This competitive funding includes up to $500,000 from appropriations made under P.L.2019, c.450 and another $500,000 from P.L.2020, c.139. The bill emphasizes that the expenditures are subject to the provisions of several existing laws related to farmland preservation, ensuring that the funds are used appropriately for their intended purpose.