Bill > A2271

This bill extends the deadline for submitting applications to the New Jersey Economic Development Authority (EDA) for review and approval of certain construction projects involving public institutions of higher education by 18 months, moving the submission deadline from August 1, 2013, to February 1, 2015, and the deadline for applications to be considered complete to August 2, 2015. These projects are part of a public-private partnership program where private entities take on financial and administrative responsibility for construction, reconstruction, repair, alteration, improvement, or extension of buildings or facilities for State or county colleges, provided the project is fully financed by the private entity and the State or institution retains ownership of the land. The EDA, a public entity that facilitates economic development, is involved in reviewing and approving these projects, which are exempt from property taxes and special assessments. The bill also clarifies that incomplete applications submitted after the specified deadline will not be considered.