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  • NJ A825
  • Expands eligible municipalities under the "Urban Transit Hub Tax Credit Act" to include Harrison Town in Hudson County.
Introduced
(1/27/2016)
In Committee
(1/27/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
The purpose of this bill is to expand the "Urban Transit Hub Tax Credit Act" program to densely populated municipalities containing a major sports arena and connected, by rail, to a nearby existing urban transit hub. The density requirement is intended to ensure that a lot of people are located within a new urban transit hub area and so will be in position to benefit from the tax credit program, either as potential workers or consumers. The proximity requirement to another urban transit hub is intended to permit easy expansion "up the line" for businesses already taking advantage of the tax credit in a nearby urban transit hub while ensuring that the municipality currently without an urban transit hub becomes attractive to new businesses and business expansion. The sports arena requirement is intended to ensure that the new urban transit hub will be a popular destination in the evenings and weekends as well as during commuter times. Pursuant to this bill, Harrison Town in Hudson County would be included in the definition of an "eligible municipality" under the "Urban Transit Hub Tax Credit Act."
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