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  • NJ A1893
  • Concerns eligible municipalities under the urban transit hub credit.
Introduced
(1/27/2016)
In Committee
(1/27/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill expands the definition of an "eligible municipality" for purposes of the urban transit hub credit, to provide an alternative transportation-related criterion. The urban transit hub credit program is intended to stimulate capital investment and increased employment in targeted urban rail transit hubs to catalyze economic development in those transit hubs. Currently, the program is limited to investment and employment in municipalities that are: (1) eligible for urban aid; (2) that have at least 30 percent of their real property value exempt from property taxes; and (3) that have a specified commuter rail station. This bill provides an alternative second criterion. This allows a municipality in which the New Jersey Turnpike and the Garden State Parkway intersect and that otherwise meets the urban aid eligibility and commuter rail station requirements to be an eligible municipality for the urban transit hub credit program. This bill would allow Woodbridge to be an eligible municipality and the area around the New Jersey Transit Metropark station to be designated an urban transit hub.
Commerce and Economic Development
Introduced, Referred to Assembly Commerce and Economic Development Committee  (on 1/27/2016)
 
 

Date Chamber Action Description
1/27/2016 A Introduced, Referred to Assembly Commerce and Economic Development Committee
Date Motion Yea Nay Other
None specified