A 5094
Exempts sale of land to nonprofit organizations for preservation for recreation and conservation purposes from realty transfer fee.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill would exempt sales of land to nonprofit organizations when the land is being preserved for recreation and conservation purposes under the ‘Preserve New Jersey Act.’ Currently, a realty transfer fee is charged on these sales. This change would remove this fee, making it easier for conservation nonprofits to acquire land for preservation efforts. The bill specifically references the ‘Preserve New Jersey Act’ to define the scope of this exemption.
Sponsors
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Primary sponsor
Roy Freiman
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