§ 40-23-12-1

40:23-12.1. Definitions 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.