Provides gross income tax deduction for amounts paid to taxpayers for sale of certain real property interests for conservation purposes.

This bill allows New Jersey property owners to claim a state income tax deduction for the capital gain realized when selling certain real estate interests to qualified conservation organizations. It applies to both full market value sales and "bargain sales" (where property is sold below market value but still includes a conservation component), with the deduction amount matching the federal capital gain calculation. The deduction covers sales to organizations participating in programs like Green Acres, Blue Acres, farmland preservation, historic preservation, and wildlife conservation initiatives. It directly affects landowners who sell conservation-protected property to these groups, helping offset taxable gains while supporting land preservation efforts.