Bill
Bill > S3170
NJ S3170
Increases annual limit of total tax credits certified for qualified projects under Neighborhood Revitalization Tax Credit Program.
summary
Introduced
05/09/2024
05/09/2024
In Committee
12/05/2024
12/05/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
Increases annual limit of total tax credits certified for qualified projects under Neighborhood Revitalization Tax Credit Program.
AI Summary
This bill increases the annual limit of total tax credits certified for qualified projects under the Neighborhood Revitalization Tax Credit Program from $15 million to $65 million. It also allows any remaining tax credits from a previous fiscal year to be carried over and added to the $65 million limit for the subsequent fiscal year, effectively increasing the overall amount of tax credits available for the program.
Committee Categories
Budget and Finance, Housing and Urban Affairs
Sponsors (4)
Last Action
Referred to Senate Budget and Appropriations Committee (on 12/05/2024)
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/S3170 |
| BillText | https://pub.njleg.gov/Bills/2024/S3500/3170_U1.HTM |
| Analysis - Statement SCU 12/5/24 | https://pub.njleg.gov/Bills/2024/S3500/3170_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S3500/3170_I2.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/S3500/3170_I1.HTM |
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