This bill proposes to increase the amounts of payments in lieu of taxes (PILOTs) made by the State for lands owned by the State or nonprofit organizations that are preserved for recreation and conservation purposes. The current law stipulates specific payment amounts based on the percentage of open space lands within a municipality, with payments starting at $2 per acre for municipalities with less than 20% open space and going up to $20 per acre for those with 60% or more. The bill amends this structure by increasing the per-acre payments to $3, $7.50, $15, and $40, respectively, for the same categories of municipalities.

Additionally, the bill clarifies that these payments will be made from the General Fund and not from constitutionally dedicated moneys. It also ensures that municipalities receive compensation for the loss of tax revenue in a manner consistent with how tax revenue is typically allocated. The changes aim to provide greater financial support to municipalities that host open space lands, thereby addressing potential tax revenue losses due to the acquisition of such lands for public use.

Statutes affected:
Introduced: 13:8C-29, 13:8C-30