Allocates $7.5 million annually of CBT revenue for land preservation in New Jersey's Highlands Region.
This bill allocates $7.5 million annually of constitutionally dedicated Corporation Business Tax (CBT) revenue for the preservation of land in New Jersey's Highlands Region. The funds, deposited into the newly created Preserve New Jersey Highlands Preservation Fund, will be used by the Highlands Water Protection and Planning Council for land acquisition for recreation, conservation, and farmland preservation purposes.
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