Extends expiration date of special appraisal process for Green Acres and farmland preservation program; provides aid for watershed lands.*

This bill extends the special appraisal process for land acquisitions under New Jersey's Green Acres and farmland preservation programs from June 30, 2024 to June 30, 2029 for lands in the Highlands Region. It allocates $7.5 million annually from constitutionally dedicated Corporation Business Tax (CBT) revenue to the Highlands Water Protection and Planning Council for land preservation in the Highlands Region. The funds will support two specific programs: the Highlands Open Space Partnership Funding program to acquire land for recreation and conservation, and the Highlands Development Credit Purchase Program to protect land with ecological or agricultural significance. The bill also requires distribution of State aid to municipalities within the Highlands Region that host watershed lands.