Loading chat...
NJ S4408
Bill
Status
5/19/2025
Primary Sponsor
Michael Testa
Click for details
AI Summary
-
Amends the New Jersey Urban Enterprise Zones Act to explicitly include purchasing, leasing, or otherwise acquiring land or other property as a qualified assistance fund expense
-
Allows Urban Enterprise Zone assistance funds to be used for property acquisition related to construction projects improving real property of qualified businesses
-
Permits property acquisition costs to be covered when providing loans, grants, and guarantees to businesses in enterprise zones
-
Enables the use of assistance funds for land acquisition when improving public infrastructure in commercial or transportation corridors
-
Authorizes property acquisition expenses for public infrastructure improvements related to commercial, industrial, mixed use, or multi-family residential properties
Legislative Description
Concerns UEZ assistance fund expenses by specifically including certain property acquisition under definition of "qualified assistance fund expense."
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
5/19/2025