Concerns assessment of farmland for property tax purposes.

This bill amends New Jersey's Farmland Assessment Act to clarify that farmland owners who stop farming activities (e.g., due to retirement or disability) will not face "roll-back taxes" unless they actively convert the land to non-farming use (like building homes). Roll-back taxes are additional fees calculated as the difference between taxes paid under agricultural assessment and standard property taxes for the current year and the two prior years. The change specifically responds to a 1981 court ruling that deemed it unfair to tax owners who ceased farming without changing land use. It directly affects New Jersey farmland owners who may discontinue agricultural activity but do not develop the property.