This bill amends the definitions of "Blue Acres cost" and "Blue Acres project" within the Preserve New Jersey Act, which governs the allocation of constitutionally dedicated corporation business tax (CBT) revenues for land preservation. The bill introduces new allowable expenses under Blue Acres costs, including housing counseling expenses and the provision of direct payments, advances, or bridge loans to households for relocation expenses. Additionally, it expands the definition of Blue Acres project to encompass the relocation of residents through various property interest transfers such as sale commitment letters, rights of occupancy, leasebacks, and life estates, thereby allowing residents to remain in their homes while the State acquires the property. Furthermore, the bill stipulates that demolition and restoration activities related to the Blue Acres program can be executed through direct contracts with service providers, eliminating the need for approval from the Division of Property Management and Construction in the Department of the Treasury. It also clarifies that the preservation of land may incorporate nature-based infrastructure solutions, such as bioswales, living shorelines, vegetative basins, and vegetated berms, enhancing the program's focus on sustainable and resilient land management practices.

Statutes affected:
Introduced: 13:8C-45