This bill appropriates a total of $52,798,268 from various farmland preservation funds to the State Agriculture Development Committee (SADC) for the purpose of farmland preservation. Specifically, it allocates $21,046,028 for the acquisition of development easements and fee simple titles to farmland, as well as grants to counties, municipalities, and qualifying tax-exempt nonprofit organizations for up to 80% and 50% of the acquisition costs, respectively. The funding is designated for projects approved under several acts, including the Agricultural Retention and Development Act and the Preserve New Jersey Act. Additionally, the bill provides $3,452,240 for stewardship grants aimed at enhancing preserved farmland through activities such as soil and water conservation and deer-fencing.

Furthermore, the bill includes appropriations for administrative and operational costs associated with the SADC's work, including $25,000,000 for organizational and administrative services, $2,000,000 for easement acquisition costs, $800,000 for Garden State Preservation Trust administration, and $500,000 for legal representation related to enforcement of development easements. The funding sources include constitutionally dedicated corporation business tax revenues, with a significant portion coming from the Preserve New Jersey Farmland Preservation Fund. The bill is set to take effect immediately upon passage.