NJ S3443

Creates a new urban enterprise zone in Atlantic City for a 10-year designation period, increasing the total number of authorized enterprise zones in New Jersey from 32 to 33.

Qualified businesses in the zone receive a 50 percent exemption from sales tax imposed under the Sales and Use Tax Act, with casinos explicitly excluded from qualifying as businesses eligible for zone benefits.

Atlantic City qualifies for the zone designation based on specific population criteria (between 38,500 and 40,500 residents) and its location in a fifth class county (population between 260,000 and 300,000) where casino gaming is authorized.

Establishes that businesses operating on casino property but not owned by the casino may still qualify for enterprise zone benefits if they meet standard program criteria.

Funds generated from the reduced sales tax rate are deposited into the enterprise zone assistance fund, which supports economic development activities including infrastructure improvements, business loans and grants, employment training programs, and public safety services within the zone.