This bill amends New Jersey's farmland preservation laws to empower the State Agriculture Development Committee (SADC) to create and maintain a region-specific list or dedicated pool of qualified tax and estate planners. These planners will assist landowners in developing installment purchase agreements for the transfer of development easements or fee simple titles on farmland. The bill stipulates that only licensed, certified, or otherwise qualified planners will be included in this list or pool, ensuring that landowners receive appropriate guidance regarding the tax and estate implications of such transactions.

Additionally, the bill outlines the responsibilities of the SADC and local boards in evaluating offers for the sale of development easements or fee simple titles, emphasizing the importance of appraisals and suitability criteria. It also specifies that the SADC may provide up to 80% of the appraisal costs, with the possibility of 100% funding under emergency conditions. The bill aims to facilitate the preservation of farmland by making it easier for landowners to navigate the complexities of tax and estate planning in relation to farmland transactions.

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