This bill authorizes County Agriculture Development Boards (CADBs) in New Jersey to establish programs for receiving donated farmland from commercial farmers and leasing it to new farmers. The bill outlines that CADBs must develop guidelines for application submissions, evaluation criteria, terms for granting or leasing the land, and authorized uses of the donated lands. Additionally, it mandates that the boards create a process for certifying applications for tax credits under the New Jersey Gross Income Tax Act for farmers who donate land.

Furthermore, the bill introduces a tax credit for farmers who donate land to CADBs, allowing them to receive a credit against their gross income tax, with a maximum value of $100,000 per donation and a cumulative cap of $100 million for all credits issued. The bill aims to incentivize the establishment of new family farms in New Jersey, addressing recommendations from a report by the State Agriculture Development Committee.

Statutes affected:
Introduced: 4:1C-16