This bill appropriates a total of $52,798,268 from various farmland preservation funds to the State Agriculture Development Committee (SADC) for farmland preservation initiatives. 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 necessary services and salaries, $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 is primarily sourced from constitutionally dedicated corporation business tax revenues, as established by the Preserve New Jersey Act, which was approved by voters in 2014. The bill is set to take effect immediately upon passage.