This bill proposes an increase in the payments in lieu of taxes (PILOTs) made by the State for lands owned by the State or nonprofit organizations that are designated for recreation and conservation purposes. The current law stipulates specific payment amounts based on the percentage of open space land 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, raising the payments to $3, $7.50, $15, and $40 per acre, respectively, thereby enhancing the financial support for municipalities that host these open space lands.

Additionally, the bill maintains the existing framework for how these payments are calculated and distributed, ensuring that municipalities receive compensation proportional to the amount of open space land they contain. It also clarifies that payments will be made from the General Fund and not from constitutionally dedicated moneys. The changes aim to better support municipalities that may experience tax revenue losses due to the acquisition of land for conservation and recreation, thereby promoting the preservation of open spaces while providing necessary financial relief to local governments.

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