This bill amends New Jersey's farmland preservation laws to empower the State Agriculture Development Committee (SADC) to create and maintain a list or dedicated pool of qualified tax and estate planners. These planners will assist landowners in navigating the complexities of transferring development easements or fee simple titles on an installment purchase basis. The bill stipulates that only those planners who are appropriately licensed, certified, or otherwise qualified and located in the region will be included in this list or pool. The SADC, local boards, and landowners will be authorized to select and utilize these planners to evaluate the feasibility of such transfers and to help structure the necessary agreements.

Additionally, the bill introduces specific provisions regarding the appraisal process for development easements, requiring two independent appraisals to determine the value of the land for both agricultural and nonagricultural purposes. It also clarifies that the state may cover up to 80 percent of the appraisal costs, with the possibility of 100 percent coverage under emergency conditions. The bill emphasizes the importance of considering tax and estate-related implications in the acquisition process, ensuring that landowners receive comprehensive guidance throughout the transaction.

Statutes affected:
Introduced: 4:1C-31, 4:1C-31.1