A Senate panel on Monday advanced a proposal to restore funding to New Jersey's depleted open-space program by amending the state's Constitution to dedicate a portion of revenue from the corporate business tax to preserving land.
The plan drew cautious optimism from environmental groups, who agree in principle on the need to fund open-space preservation but are wary of diverting money from other eco-friendly causes.
Specifically, the amendment would dedicate 6 percent of corporate business tax revenue - about $150 million annually - to the preservation of open space, farmland, and historic sites for 30 years. It would take effect in fiscal year 2016.
http://www.philly.com/philly/news/n...for_open-space_funding_advances_in_N__J_.html
The plan drew cautious optimism from environmental groups, who agree in principle on the need to fund open-space preservation but are wary of diverting money from other eco-friendly causes.
Specifically, the amendment would dedicate 6 percent of corporate business tax revenue - about $150 million annually - to the preservation of open space, farmland, and historic sites for 30 years. It would take effect in fiscal year 2016.
http://www.philly.com/philly/news/n...for_open-space_funding_advances_in_N__J_.html
