Allocates $7.5 million annually of constitutionally dedicated CBT revenue for preservation of land in Highlands Region.
This bill allocates $7.5 million annually of constitutionally dedicated Corporation Business Tax (CBT) revenue for the preservation of land in the Highlands Region. The funds are to be deposited into the Preserve New Jersey Highlands Preservation Fund, which will be used by the Highlands Water Protection and Planning Council for land preservation. The fund will be used for the acquisition of lands for recreation and conservation purposes, farmland preservation, and as a state match for federal funding.
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