This bill proposes to increase the amounts of payments in lieu of taxes (PILOTs) made by the State for lands owned by the State or nonprofit organizations that are preserved for recreation and conservation purposes. The current law stipulates that municipalities receive payments based on the percentage of open space lands within their jurisdiction, with specific per-acre amounts established for different thresholds of open space coverage. The bill amends Sections 29 and 30 of P.L.1999, c.152 to raise these per-acre payments significantly. For instance, municipalities with less than 20% open space will receive $3 per acre instead of $2, while those with 60% or more will see their payment increase from $20 to $40 per acre.

The new payment structure will be as follows: $3 per acre for municipalities with less than 20% open space, $7.50 for those with 20-40%, $15 for 40-60%, and $40 for municipalities with 60% or more open space. This adjustment aims to better compensate municipalities for the loss of tax revenue due to the acquisition of land for conservation purposes, ensuring that they do not suffer financially as a result of these land acquisitions. The bill is set to take effect immediately upon enactment.

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