Requires municipal governing body to consider preservation of certain open space proposed for development.

Bill S 1501 requires New Jersey municipalities to pause development reviews for projects on 20 or more contiguous acres to consider preserving the land for recreation or conservation. Municipalities must hold a public hearing within 45 days and decide whether to pursue purchasing the property under existing conservation laws. If they choose preservation, the development application may be denied; if not, the review process resumes. This directly affects developers seeking large-scale projects and gives residents a formal role in land use decisions.