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).

In addition to the base grant of $500,000, Washington Township may also compete for an additional grant from the SADC's competitive grant fund, which could provide up to $1 million in total funding. This competitive funding includes up to $500,000 from previously appropriated funds under P.L.2019, c.450, and another $500,000 from P.L.2020, c.139. The bill emphasizes that the expenditures will adhere to the provisions of various related laws, ensuring that the funds are used appropriately for farmland preservation initiatives.