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NJ A5789
Bill
Status
6/16/2025
Primary Sponsor
Alexander Schnall
Click for details
AI Summary
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Amends the New Jersey Urban Enterprise Zones Act to explicitly include the purchasing, leasing, or otherwise acquiring of land or other property as a qualified expense under the UEZ assistance fund
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Allows property acquisition costs to count as qualified expenses for construction projects that improve, alter, or repair real property of qualified businesses in enterprise zones
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Permits loans, grants, and guarantees to businesses to be applied toward purchasing, leasing, or acquiring land or other property
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Expands qualified expenses for public infrastructure improvements in commercial or transportation corridors to include property acquisition costs
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Takes effect immediately upon enactment
Legislative Description
Concerns UEZ assistance fund expenses by specifically including certain property acquisition under definition of "qualified assistance fund expense."
State and Local Government
Last Action
Introduced, Referred to Assembly State and Local Government Committee
6/16/2025