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

S 3466 extends the special appraisal process for Green Acres and farmland preservation programs in the Highlands Region through 2029, requiring landowners to be provided with two appraisal values when selling property for preservation. The bill allocates $7.5 million annually from constitutionally dedicated Corporation Business Tax revenue to the Highlands Water Protection and Planning Council for land preservation, with $5 million for recreation and conservation and $2.5 million for farmland preservation. It creates a new "Preserve New Jersey Highlands Preservation Fund" to support land acquisition and conservation efforts in the Highlands Region, including matching federal funding for watershed protection. The bill also requires distributing state aid to municipalities hosting watershed lands that don't receive existing watershed moratorium offset aid.