13:8C-47.1 Allocation of Preserve New Jersey Fund Account.
1. a. In each State fiscal year commencing in State fiscal year 2020 and annually thereafter, of the amount credited by the State Treasurer to the Preserve New Jersey Fund Account pursuant to subparagraph (b) of paragraph (1) of subsection a. of section 4 of P.L.2016, c.12 (C.13:8C-46):
(1) 62 percent shall be deposited into the Preserve New Jersey Green Acres Fund;
(2) 31 percent shall be deposited into the Preserve New Jersey Farmland Preservation Fund; and
(3) seven percent shall be deposited into the Preserve New Jersey Historic Preservation Fund.
b. (1) Beginning July 1, 2022, and annually thereafter, the Garden State Preservation Trust shall conduct a review of the appropriations of constitutionally dedicated CBT moneys to, and the expenditures thereof by, the Department of Environmental Protection, the State Agriculture Development Committee, and the New Jersey Historic Trust for their respective programs. In conducting this review, the trust shall: evaluate the demonstrated need for funding for the acquisition or development of lands for recreation and conservation purposes, including Blue Acres projects, farmland preservation purposes, or historic preservation purposes based upon available projects, applicant demand, and past appropriations and expenditures for these purposes; and hold a public hearing to solicit public input on appropriate funding allocations for the department, committee, and New Jersey Historic Trust, for the upcoming fiscal year.
(2) If the trust determines, based on the review conducted pursuant to paragraph (1) of this subsection, that it would be appropriate to revise the allocations set forth in subsection a. of this section, or section 6, 8, or 9 of P.L.2016, c.12 (C.13:8C-48, 50, or 51), the trust shall send a written notification to the Chairperson of the Senate Environment and Energy Committee, the Assembly Agriculture and Natural Resources Committee, and the Assembly Environment and Solid Waste Committee, or their successors, of its findings and recommendations concerning future funding allocations for the Preserve New Jersey Green Acres Fund, the Preserve New Jersey Farmland Preservation Fund, or the Preserve New Jersey Historic Preservation Fund.
(3) A recommendation by the trust to reallocate constitutionally dedicated CBT moneys based on the review conducted pursuant to this subsection shall not alter the allocations set forth in subsection a. of this section or section 6, 8, or 9 of P.L.2016, c.12 (C.13:8C-48, 50, or 51) for any fiscal year unless authorized by the Legislature.
L.2019, c.136, s.1.