S 1223 New Jersey Senate · 2024-2025 Regular Session

Requires disclosure of original purchase price for land to be sold to a county, county agriculture development board, or municipality for farmland preservation purposes.

This bill requires sellers of farmland or development easements to disclose their original purchase price to the buying county, agriculture board, or municipality *before* the sale, when the land is being preserved for agricultural use. It directly affects individuals or businesses selling property for farmland preservation, mandating they share the price they paid for the land. The key provision is a pre-sale disclosure requirement for all sellers, ensuring transparency about the land's original cost to the government entity acquiring it. The bill takes effect immediately upon enactment.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024 Last action Jan 9, 2024
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Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Environment and Energy Committee
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Jim Beach
Jim Beach
DDemocratic
NJ
6