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NJ S872
Bill
Status
1/13/2026
Primary Sponsor
Michael Testa
Click for details
AI Summary
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Removes the $100,000 cap on sales and use tax exemptions for materials, supplies, and services used in construction, improvement, alteration, or repair of real property by qualified Urban Enterprise Zone businesses
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Applies to businesses certified with UZ-4 certification that own or lease and operate locations in eligible block groups within Urban Enterprise Zones
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Takes effect retroactively to January 1, 2022, when the original capped exemption first applied
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"Substantially improving" a structure is defined as reconstruction or rehabilitation costing at least 50% of the structure's pre-construction market value
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Sponsored by bipartisan group of senators representing Districts 1, 11, and 29 (Atlantic, Cape May, Cumberland, Monmouth, Essex, and Hudson counties)
Legislative Description
Repeals $100,000 cap on sales and use tax exemption for certain capital improvements made by businesses participating in Urban Enterprise Zone program.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
1/13/2026