Definitions

N.J. Stat. § 40:23-12.1
in effect
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As used in this act: "Farmland" means land that qualifies for valuation, assessment, and taxation pursuant to the "Farmland Assessment Act of 1964," P.L. 1964, c. 48 (C. 54:4-23.1 et seq.). "Low-interest loan" means a loan issued at an annual interest rate not in excess of 1% above the rate paid by the county on the obligations issued to fund the loan program authorized pursuant to section 2 of this act. L. 1987, c. 34, s. 1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.njleg.state.nj.us/legislative-activity/statutesFetched: 10/17/2026

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