New Jersey A4368 authorizes County Agriculture Development Boards to establish a program for receiving and leasing donated farmland to new farmers.
New Jersey A4368 would authorize County Agriculture Development Boards to establish a program to receive and lease donated farmland to new farmers. The program would include guidelines and procedures for application submission and evaluation, terms and conditions for the granting or leasing of donated lands, and authorized uses of the donated lands. The bill also establishes a gross income tax credit for farmers who donate land, with a maximum credit of $100,000 per donation and a cumulative cap of $100 million. The tax credit is calculated based on the value of the donated land.
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- Legal Framework
- Critical Issues
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