This bill amends Section 37 of P.L.1999, c.152 to increase the allowable cost-share grant percentage for nonprofit organizations acquiring development easements or fee simple titles on farmland from 50 percent to 80 percent. Currently, the State Agriculture Development Committee (SADC) provides up to 80 percent of the cost for local government units but only 50 percent for qualifying tax-exempt nonprofit organizations. The bill aims to equalize the grant percentage for both entities, thereby enhancing support for nonprofit organizations involved in farmland preservation.

Additionally, the bill stipulates that any farmland acquired through fee simple title must be resold or leased with agricultural deed restrictions, as determined by the SADC. This change is intended to ensure that the land remains dedicated to agricultural use while also allowing for the potential recovery of costs through resale or lease. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 13:8C-37