Appropriates $128.241 million from constitutionally dedicated CBT revenues to State Agriculture Development Committee for farmland preservation purposes.

Senate Bill S 2788 appropriates $128.241 million from constitutionally dedicated corporation business tax (CBT) revenues to the State Agriculture Development Committee (SADC) for farmland preservation. The funds will pay for permanent land protections on farmland through development easements or fee simple purchases, with grants available to counties (covering up to 80% of costs), municipalities, and qualifying nonprofits (covering up to 50% of costs). Additional funds cover administrative expenses, including staff salaries, appraisals, survey costs, and legal enforcement of preservation agreements. This bill implements existing farmland preservation programs under the Preserve New Jersey Act and related legislation.