NJ S3395

Expands the definition of "qualifying municipality" for New Jersey urban aid eligibility to include fourth class cities or municipalities with populations between 2,000 and 2,200 located in sixth class counties that have either the highest effective property tax rate in the county or rank in the top 3% of most distressed municipalities statewide per the Municipal Revitalization Index.

Specifically enables the City of Wildwood and Borough of Woodbine in Cape May County to qualify as urban aid municipalities under P.L.1978, c.14.

Extends all existing benefits and considerations available to urban aid municipalities under current law to newly qualifying municipalities through references already established in statute.

Amends P.L.1978, c.14 (C.52:27D-178 et seq.), which governs the distribution of State urban aid funds to municipalities.

Takes effect immediately upon enactment.