This bill aims to restrict speculative development of warehouses on active farmland until the State Agriculture Development Committee (SADC) has cataloged 500,000 acres of preserved farmland under existing preservation programs. Specifically, no approving authority will be able to schedule or hold hearings on applications for warehouse development on active farmland until this acreage threshold is met. However, if an applicant commits to preserving an equivalent area of farmland, their application may be considered. The SADC is tasked with reporting to the Governor and the Legislature once the 500,000 acres have been cataloged.

The legislation is designed to protect agricultural land by ensuring that significant farmland preservation occurs before allowing new warehouse developments, which are defined as speculative if there is no contractual commitment from a tenant or buyer. The bill will take effect immediately and will expire once the SADC submits the required report confirming the preservation of the specified acreage. This initiative follows recommendations from a 1998 report emphasizing the importance of preserving farmland for the sustainability of agriculture in New Jersey.