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Bill > S3097
NJ S3097
NJ S3097Modifies requirements for certain projects under Economic Redevelopment and Growth Grant program.
summary
Introduced
04/11/2024
04/11/2024
In Committee
06/24/2024
06/24/2024
Crossed Over
06/28/2024
06/28/2024
Passed
06/28/2024
06/28/2024
Dead
Signed/Enacted/Adopted
09/12/2024
09/12/2024
Introduced Session
2024-2025 Regular Session
Bill Summary
An Act concerning the Economic Redevelopment and Growth Grant program and amending P.L.2009, c.90 and P.L.2022, c.75.
AI Summary
This bill modifies the requirements for certain projects under the Economic Redevelopment and Growth Grant program. Specifically, it provides more favorable redevelopment incentive grant terms for mixed-use parking projects that are undertaken by municipal redevelopers in certain growth zones, including allowing grants to cover up to 100% of the parking component costs and up to 80% of the non-parking component costs. The bill also extends deadlines for these projects to submit temporary certificates of occupancy and allows for modification of existing approvals to reflect the new terms. The bill aims to support development and revitalization in designated economic growth areas.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (3)
Last Action
Approved P.L.2024. c.71. (on 09/12/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S3097 |
| BillText | https://pub.njleg.gov/Bills/2024/PL24/71_.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/AL24/71_.HTM |
| Fiscal Note - Fiscal Estimate 7/3/24; as introduced | https://pub.njleg.gov/Bills/2024/S3500/3097_E1.PDF |
| Analysis - Statement SBA 6/24/24 | https://pub.njleg.gov/Bills/2024/S3500/3097_S2.PDF |
| Analysis - Statement SEG 5/16/24 | https://pub.njleg.gov/Bills/2024/S3500/3097_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S3500/3097_I1.HTM |
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