This bill appropriates a total of $500,000 to the State Agriculture Development Committee for the purpose of providing a municipal planning incentive grant. The funding is allocated as follows: $200,000 from dedicated corporation business tax revenues in the Preserve New Jersey Farmland Preservation Fund and $300,000 from the 2009 Farmland Preservation Fund, which is made available through the reallocation of previously appropriated funds. The municipality of Washington Township in Warren County is specifically identified as eligible for this grant amount.

Additionally, the bill appropriates $200,000 from the General Fund to the Preserve New Jersey Farmland Preservation Fund to support the implementation of the act's provisions. It also outlines that Washington Township may receive a maximum grant award of $1,000,000 through competitive funds from previous legislation. The expenditure of the appropriated funds is subject to existing laws related to farmland preservation. The act is set to take effect immediately upon approval.