This bill appropriates a total of $128.241 million from constitutionally dedicated corporation business tax (CBT) revenues to the State Agriculture Development Committee (SADC) for farmland preservation purposes. Specifically, it allocates $115.091 million to cover the costs associated with acquiring development easements or fee simple titles to farmland, as well as providing grants to counties, municipalities, and qualifying tax-exempt nonprofit organizations for up to 80% and 50% of the acquisition costs, respectively. The bill also allows for additional funds from proceeds that may become available through the lease or conveyance of previously acquired farmland, ensuring that the SADC can continue its efforts in farmland preservation.

Additionally, the bill designates $13.15 million from the Preserve New Jersey Farmland Preservation Fund for various administrative and operational costs related to the SADC's work. This includes $12 million for organizational and administrative expenses, $1 million for costs associated with acquiring development easements, and $150,000 for legal advice and representation regarding the enforcement of development easements. The funding is part of the broader framework established by the Preserve New Jersey Act, which dedicates CBT revenues for open space, farmland, and historic preservation, reflecting the state's commitment to maintaining its agricultural resources.