New Jersey § 13:8c-46

§ 13:8c-46.

There is established in the General Fund a special account to be known as the “Preserve

New Jersey Fund Account.” a. The State Treasurer shall credit to this account: (1)(a)(i) For State fiscal year 2016, an amount equal to 71 percent of the four percent

of the revenue annually derived from the tax imposed pursuant to the “Corporation

Business Tax Act (1945),” P.L.1945, c. 162 ( C.54:10A-1 et seq. ), as amended and supplemented, or any other State law of similar effect, dedicated

for recreation and conservation, farmland preservation, and historic preservation

purposes pursuant to subparagraph (a) of Article VIII, Section II, paragraph 6 of the State Constitution , less $19,972,000 already appropriated and expended for parks management in P.L.2015, c. 63 ; and (ii) in each State fiscal year 2017 through and including State fiscal year 2019 an

amount equal to 71 percent of the four percent of the revenue annually derived from

the tax imposed pursuant to the “Corporation Business Tax Act (1945),” P.L.1945, c.

162 ( C.54:10A-1 et seq. ), as amended and supplemented, or any other State law of similar effect, dedicated

to recreation and conservation, farmland preservation, and historic preservation purposes

pursuant to subparagraph (a) of Article VIII, Section II, paragraph 6 of the State Constitution ; and (b) (i) in each State fiscal year commencing in State fiscal year 2020 and annually thereafter,

an amount equal to 78 percent of the six percent of the revenue annually derived from

the tax imposed pursuant to the “Corporation Business Tax Act (1945),” P.L.1945, c.

162 ( C.54:10A-1 et seq. ), as amended and supplemented, or any other State law of similar effect, dedicated

to recreation and conservation, farmland preservation, and historic preservation purposes

pursuant to subparagraph (a) of Article VIII, Section II, paragraph 6 of the State Constitution ; and (ii) any amount received from a solar electric power generation facility pursuant

to section 5 of P.L.2021, c. 169 ( C.48:3-118 ); and (2) in each State fiscal year, an amount equal to the amount dedicated pursuant to

subparagraph (b) of Article VIII, Section II, paragraph 6 of the State Constitution . b. In each State fiscal year, the amount credited to the Preserve New Jersey Fund

Account shall be appropriated from time to time by the Legislature only for the applicable

purposes set forth in Article VIII, Section II, paragraph 6 of the State Constitution and P.L.2016, c. 12 ( C.13:8C-43 et seq. ) for: (1) providing funding, including loans or grants, for the preservation, including

acquisition, development, and stewardship, of lands for recreation and conservation

purposes, including lands that protect water supplies and lands that have incurred

flood or storm damage or are likely to do so, or that may buffer or protect other

properties from flood or storm damage; (2) providing funding, including loans or grants, for the preservation and stewardship

of land for agricultural or horticultural use and production; (3) providing funding, including loans or grants, for historic preservation; and (4) paying administrative costs associated with (1) through (3) of this subsection. c. Nothing in P.L.2016, c. 12 ( C.13:8C-43 et seq. ) shall authorize any State entity to use constitutionally dedicated CBT moneys for

the purpose of making any payments relating to any bonds, notes, or other debt obligations,

other than those relating to obligations arising from land purchase agreements made

with landowners. d. In each State fiscal year after the enactment of P.L.2021, c. 169 ( C.48:3-114 et al.), the State Treasurer shall notify, in writing, the chairperson of the Garden

State Preservation Trust of the amount received from a solar electric power generation

facility pursuant to section 5 of P.L.2021, c. 169 ( C.48:3-118 ) and credited to the Preserve New Jersey Fund Account pursuant to subsubparagraph

(ii) of subparagraph (b) of paragraph (1) of subsection a. of this section to be used

for the purposes of subsection b. of this section.