Provides deduction in cash rent due on lease of State-owned land for value of certain food and farm equipment donations by commercial farm operators.

This bill allows commercial farm operators who lease New Jersey state-owned land to receive a cash rent deduction equal to 50 percent of the wholesale value of perishable or prepared food, or 50 percent of the value of eligible farm equipment, donated to state food banks or food pantries. The eligible equipment includes refrigerators, trucks, shelving, and other tools used in food recovery operations. To claim the deduction, farmers must provide written donation statements from the receiving organizations and submit copies with their lease payments. The Department of Agriculture will create rules to implement these provisions, which apply to all leases executed or renewed on or after the bill's effective date.