On Thursday, the Senate Environment and Energy Committee favorably reported S-2161, which increases amounts of certain payments in lieu of taxes paid for lands owned by State or nonprofit organizations for recreation and conservation purposes under the Garden State Preservation Trust.
Current law requires that the State pay a certain amount annually to municipalities, in proportion to the acreage of open space lands in the municipality. Section 29 of P.L.1999, c.152 (C.13:8C-29) applies to lands that are acquired using constitutionally dedicated corporation business tax (CBT) revenues, and requires that, beginning 13 years after the land was acquired, the State pay:
- $2 per acre to municipalities that are comprised of less than 20% open space lands;
- $5 per acre to municipalities that are comprised of between 20%and 40% open space lands;
- $10 per acre to municipalities that are comprised of between 40%and 60% open space lands; and
- $20 per acre to municipalities that are comprised of 60%open space lands or greater.
Section 30 of P.L.1999, c.152 (C.13:8C-30) applies to open space lands that were not acquired using dedicated CBT funding. It establishes the same formula for PILOTs, but applies the formula regardless of when the land was acquired.
This bill would increase the per-acre amounts in the formulas in both sections of law to the following:
- $3 per acre to municipalities that are comprised of less than 20% open space lands;
- $7.50 per acre to municipalities that are comprised of between 20% and 40%open space lands;
- $15 per acre to municipalities that are comprised of between 40% and 60% open space lands; and
- $40 per acre to municipalities that are comprised of 60% open space lands or greater.
The League supports this measure. S-2161 has been referred to the Senate Budget and Appropriations Committee. A-3151, the Assembly companion, has been referred to the Assembly Environment and Solid Waste Committee and has yet to receive a hearing.
Contact: Paul Penna, Director of Government Affairs, 609-695-3481 x. 110, ppenna@njlm.org