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  • NJ A2576
  • Extends duration of urban enterprise zones for 10 additional years; specifies permissable use of funds.*
Introduced
(2/8/2016)
In Committee
(6/23/2016)
Crossed Over
(6/27/2016)
Passed
(6/30/2016)
SignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill extends the designation of all previously designated urban enterprise zones (UEZs) for a one-time period of 10 years, thus continuing their participation in the Urban Enterprise Zone Program. The bill specifies that the 10-year extension of these UEZs be designated within 90 days of the date of expiration of their previous designation as UEZs. The bill authorizes qualifying retail businesses in the UEZs to charge and collect the State's sales and use tax (SUT) at one half of the normal rate. The bill provides that, after dedicating 10 percent of the reduced-rate SUT revenues to the New Jersey Urban Enterprise Zone Authority: 1) during the first three-year extension period, the remaining revenues collected will be appropriated for use by the UEZs in these cities; 2) during the second three-year extension period, 66 and 2/3 percent of the remaining revenues collected will be appropriated for use by the UEZs in these cities and the remaining 33 and 1/3 percent will be deposited in the General Fund; 3) during the third three-year extension period, 33 and 1/3 percent of the remaining revenues collected will be appropriated for use by the UEZs in these cities and the remaining 66 and 2/3 percent will be deposited in the General Fund; and 4) in the final year, all remaining revenues will be deposited in the General Fund.
2nd Reading in the Assembly, Budget, Commerce and Economic Development, Passed Assembly, Passed both Houses, Received by the Assembly
Conditional Veto, Received in the Assembly  (on 9/8/2016)
 
 

Date Chamber Action Description
9/8/2016 A Conditional Veto, Received in the Assembly
6/30/2016 S Passed Senate (Passed Both Houses) (25-13)
6/30/2016 S Substituted for S1080 (1R)
6/30/2016 S Received in the Senate without Reference, 2nd Reading
6/27/2016 A Passed by the Assembly (52-26-0)
6/23/2016 A Reported out of Assembly Comm. with Amendments, 2nd Reading
6/23/2016 A Transferred to Assembly Budget Committee
6/23/2016 Assembly Budget Hearing (10:00 6/23/2016 Committee Room 11, 4th Floor)
6/2/2016 A Reported out of Asm. Comm. with Amendments, and Referred to Assembly Appropriations Committee
6/2/2016 Assembly Commerce and Economic Development Hearing (13:30 6/2/2016 Committee Room 16, Fourth Floor)
2/8/2016 A Introduced, Referred to Assembly Commerce and Economic Development Committee
Date Motion Yea Nay Other
Detail 6/30/2016 Senate Floor: Third Reading - Final Passage 25 13 2
Detail 6/30/2016 Senate Floor: Substitute For S1080 (Voice Vote) 0 0 0
Detail 6/27/2016 Assembly Floor: Third Reading - Final Passage 52 26 2
Detail 6/23/2016 Assembly Budget Committee: Reported with Amendments 9 4 0
Detail 6/2/2016 Assembly Commerce and Economic Development Committee: Reported with Amendments 8 2 2