NJ A4062

Amends New Jersey's Uniform Shared Services and Consolidation Act (P.L.2007, c.63) to add requirements for shared services agreements involving warehouse development.

Requires agreements related to warehouse development within shared municipal territories to include terms for sharing both costs and revenues resulting from the warehouse's development and operation.

Mandates that such agreements specify the square footage of warehouses subject to cost and revenue sharing provisions.

Applies to shared services agreements entered into or renewed after the bill's effective date.

Aims to give municipalities tools to address warehouse overdevelopment and prevent situations where promised property tax revenues fail to materialize from underutilized facilities.