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NJ A4534
NJ A4534Revises definition of qualified assistance fund expenses under UEZ program to include costs of transportation infrastructure projects and related debt service.
summary
Introduced
06/06/2024
06/06/2024
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 urban enterprise zones and amending P.L.1983, c.303.
AI Summary
This bill revises the definition of "qualified assistance fund expenses" under the Urban Enterprise Zone (UEZ) program to include the costs of transportation infrastructure projects and related debt service. Specifically, the bill allows up to 75% of UEZ assistance funds to be used to pay debt service related to the financing of transportation infrastructure projects or to be pledged towards the repayment of loans for such projects, as long as this use is detailed in the municipality's zone development plan certified by the UEZ Authority.
Committee Categories
Business and Industry
Sponsors (10)
Craig Coughlin (D)*,
Raj Mukherji (D)*,
Alexander Schnall (D)*,
Joe Vitale (D)*,
Benjie Wimberly (D)*,
Clinton Calabrese (D),
Patrick Diegnan (D),
Angela Mcknight (D),
Teresa Ruiz (D),
Sterley Stanley (D),
Last Action
Approved P.L.2024, c.80. (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/A4534 |
| BillText | https://pub.njleg.gov/Bills/2024/PL24/80_.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/AL24/80_.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/A5000/4534_R2.HTM |
| Analysis - Statement Senate 6/28/24 1R | https://pub.njleg.gov/Bills/2024/A5000/4534_S2.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A5000/4534_R1.HTM |
| Analysis - Statement ASL 6/24/24 | https://pub.njleg.gov/Bills/2024/A5000/4534_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A5000/4534_I1.HTM |
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