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 eligible for this grant is Washington Township in Warren County, which will receive the full amount of $500,000.

Additionally, the bill outlines that Washington Township is also eligible for a competitive grant fund, with a maximum award of $1,000,000. This includes up to $500,000 from competitive funds approved in previous legislation (P.L.2019, c.450 and P.L.2020, c.139). Furthermore, the bill appropriates an additional $200,000 from the General Fund to the Preserve New Jersey Farmland Preservation Fund to implement the provisions of this act. The expenditures are subject to existing laws related to farmland preservation. The act is set to take effect immediately upon approval.