This bill appropriates a total of $64,787,327 from various farmland preservation funds to the State Agriculture Development Committee (SADC) for farmland preservation initiatives. Specifically, it allocates $56,631,727 for the acquisition of development easements and fee simple titles to farmland, as well as grants to counties, municipalities, and qualifying tax-exempt nonprofit organizations for up to 80% and 50% of the costs associated with these acquisitions, respectively. The funding is designated for projects approved under several acts, including the Agricultural Retention and Development Act and the Preserve New Jersey Act. Additionally, the bill provides $2,655,600 for stewardship grants aimed at enhancing preserved lands through activities such as soil and water conservation and deer-fencing.

Furthermore, the bill includes appropriations for administrative costs related to the SADC's operations, including $2,000,000 for easement program administration, $500,000 for legal advice and representation, and $3,000,000 to reimburse local government units and nonprofit organizations for administrative expenses tied to the acquisition of development easements and fee simple titles. The funding sources include constitutionally dedicated corporation business tax revenues, with $54,872,785 specifically allocated from these revenues to support the provisions of the bill. The bill is set to take effect immediately upon passage.