Increases amounts of certain payments in lieu of taxes paid for lands owned by State or nonprofit organization for recreation and conservation purposes.

This bill increases payments to New Jersey municipalities for lands owned by the State or qualifying nonprofit organizations for recreation and conservation purposes. It updates a 13-year payment schedule: starting at 100% of prior tax value, then decreasing annually (to 4% in year 13), followed by new per-acre rates after year 13. The rates are $3/acre for municipalities with <20% conservation land, $7.50/acre for 20-40%, $15/acre for 40-60%, and $40/acre for ≥60% conservation land. These payments, funded from the General Fund, replace lost property tax revenue and must be used for the same municipal purposes as regular property taxes. The bill directly affects municipalities with significant conservation land holdings.