This bill establishes a recurring annual tax credit of $250 for taxpayers who own property within 1,000 feet of Barnegat Bay and its tributaries. The credit is available to those who replace their grass lawns with non-maintenance materials such as stones or crushed shells, which do not require fertilizers or other chemical agents that could pollute the bay. Additionally, property owners who have already made such replacements prior to the enactment of this bill will also qualify for the tax credit.

The bill aims to incentivize property owners to adopt environmentally friendly landscaping practices, thereby reducing the runoff of harmful substances into Barnegat Bay, which is crucial for the health of its waters and ecosystems. The Director of the Division of Taxation is tasked with creating the necessary rules and regulations to implement this tax credit, and the act is set to take effect immediately, applying to taxable years starting January 1 following its enactment.