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 compensation payments to New Jersey municipalities for land owned by the State or qualifying nonprofit organizations for recreation and conservation purposes. It raises the initial 13-year payments (based on prior tax assessments) and establishes new annual per-acre rates after year 13, ranging from $3 to $40 per acre depending on the percentage of conservation land in the municipality. Payments are funded from the General Fund, not constitutionally dedicated moneys, and apply only to permanently preserved land. Municipalities receive these payments to offset lost tax revenue, with rates increasing as conservation land makes up a larger portion of the municipality's total area.