SENATE NATURAL RESOURCES AND ECONOMIC DEVELOPMENT COMMITTEE

STATEMENT TO

ASSEMBLY, No. 1774

with committee amendments

STATE OF NEW JERSEY

DATED: MAY 9, 1996

      The Senate Natural Resources and Economic Development Committee favorably reports Assembly Bill No. 1774, with committee amendments. 

      Assembly Bill No. 1774 appropriates $15,200,000 from the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, and reappropriates $3,800,000 (in unexpended balances from previous appropriations) from the "Open Space Preservation Bond Act of 1989," P.L.1989, c.183, for farmland preservation projects approved as eligible for funding pursuant to this bill with respect to such projects located in southern New Jersey and pursuant to a companion bill (Senate Bill No. 1021 of 1996 or Assembly Bill No. 1775 of 1996) with respect to such projects located in northern New Jersey. Specifically, the sums appropriated or reappropriated would be utilized to: (1) provide grants to counties and municipalities for up to 80% of the cost of acquisition of development easements on farmland; and (2) provide for up to 100% of the cost of acquisition of development easements under such emergency conditions as the State Agriculture Development Committee determines, in accordance with the provisions of the bond acts.

      The committee amendments are technical in nature. As reported, this bill is identical to Senate Bill No. 1022, which was also favorably reported by the committee.

FISCAL IMPACT:

      This bill appropriates and reappropriates $19 million in bond funds for eligible projects for farmland preservation in the southern counties of the state and the list of projects in Assembly Bill No. 1775 of 1996.