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 designated as eligible for the full grant amount of $500,000.

Additionally, the bill allows for Washington Township to be eligible for further competitive grant funding, with a maximum award of $1,000,000, which includes up to $500,000 from competitive funds approved in previous legislation. An additional appropriation of $200,000 from the General Fund to the Preserve New Jersey Farmland Preservation Fund is also included to implement the provisions of this act. The bill is set to take effect immediately upon approval.