Pandemic Darlings The pandemic economy, in original documents
Home Source documents Assembly Commerce, Economic Development and Agriculture Committee Statement, No. 3698 (February 22, 2024)

Assembly Commerce, Economic Development and Agriculture Committee Statement, No. 3698 (February 22, 2024)

Summary

Statement of the Assembly Commerce, Economic Development and Agriculture Committee to the Assembly, State of New Jersey, dated February 22, 2024, reporting Assembly Bill No. 3698 favorably. The bill would appropriate $1.723 million to the State Agriculture Development Committee (SADC) for farmland preservation purposes, for grants to a qualifying tax exempt nonprofit organization. Of the total appropriated, $896,678.23 is from constitutionally dedicated corporation business tax (CBT) revenues and $826,321.77 is from the 2009 Farmland Preservation Fund. The statement says all the funds are made available due to the reallocation of previously appropriated monies.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Cite this document

“Assembly Commerce, Economic Development and Agriculture Committee Statement, No. 3698 (February 22, 2024).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2024-02-22-ace-a3698-s1-9f434f465d/, SHA-256 8c4650cf4bd6d629e26eebeb2a319888f832760ef0a83240d9407f04171c5bb7.

Full text

ASSEMBLY COMMERCE, ECONOMIC DEVELOPMENT AND
           AGRICULTURE COMMITTEE

                          STATEMENT TO

                     ASSEMBLY, No. 3698

       STATE OF NEW JERSEY
                        DATED: FEBRUARY 22, 2024

          The Assembly Commerce, Economic Development and
      Agriculture Committee reports favorably Assembly Bill No. 3698.
          This bill would appropriate $1.723 million to the State
      Agriculture Development Committee (SADC) for farmland
      preservation purposes. Specifically, the bill would appropriate
      funds for grants to one qualifying tax exempt nonprofit organization
      for projects for five farms. The grants provided by the bill are for
      up to 50 percent of the cost of acquisition of development
      easements on farmland for farmland preservation purposes, or up to
      50 percent of the cost of acquisition of fee simple titles to farmland
      for resale or lease with agricultural deed restrictions approved by
      the SADC.
         Of the total appropriated, $896,678.23 is from constitutionally
      dedicated corporation business tax (CBT) revenues, pursuant to
      Article VIII, Section II, paragraph 6 of the State Constitution,
      approved by the voters of the State in November 2014. The
      “Preserve New Jersey Act,” P.L.2016, c.12 (C.13:8C-43 et seq.),
      implements the constitutional dedication of CBT revenues for open
      space, farmland, and historic preservation. The “Preserve New
      Jersey Farmland Preservation Fund” was established pursuant to
      section 8 of the “Preserve New Jersey Act.
         In addition, of the total appropriated, $826,321.77 is from the
      “2009 Farmland Preservation Fund,” established pursuant to section
      18 of the “Green Acres, Water Supply and Floodplain Protection,
      and Farmland and Historic Preservation Bond Act of 2009,”
      P.L.2009, c.117. All the funds in the bill are made available due to
      the reallocation of previously appropriated monies.
          The allocations and projects listed in this bill have been
      approved by the SADC and the Garden State Preservation Trust.

File and source

File
2024-02-22_ACE_A3698_S1.pdf
Size
117,584 bytes
SHA-256
8c4650cf4bd6d629e26eebeb2a319888f832760ef0a83240d9407f04171c5bb7
Our copy
2024-02-22_ACE_A3698_S1.pdf
Original
No public link identified.
Back to top