This bill appropriates a total of $3,750,990 to the State Agriculture Development Committee (SADC) for farmland preservation initiatives. The funding is designated for grants to qualifying tax-exempt nonprofit organizations, specifically the Land Conservancy of New Jersey, to cover up to 50 percent of the costs associated with acquiring development easements on farmland or fee simple titles for resale or lease, with agricultural deed restrictions approved by the SADC. The funds are sourced from constitutionally dedicated corporation business tax (CBT) revenues, as established by the Preserve New Jersey Act, which allocates CBT revenues for open space, farmland, and historic preservation.

Of the total amount appropriated, $3,561,350 is made available through the reallocation of previously appropriated funds, while $591,700 is specifically earmarked for grants to the Land Conservancy of New Jersey for projects at three farms that were previously funded in fiscal year 2024. The bill outlines that the expenditure of these funds is subject to existing laws related to farmland preservation, ensuring that the allocated resources are utilized effectively for the intended purposes. The allocations and projects have received approval from both the SADC and the Garden State Preservation Trust.