Bill > A4560

Introduced Session

This bill repeals the "Statewide Non-Residential Development Fee Act," enacted as sections 32 through 38 of P.L.2008, c.46 (C.40:55D-8.1 through C.40:55D-8.7), which established a Statewide non-residential development fee charged by all municipalities for non-residential construction or improvements, at a rate of two and one-half percent of the equalized assessed value of land and improvements for all new non-residential construction on unimproved lots, and at a rate of two and one-half percent of the increase in equalized assessed value for additions to existing structures to be used for non-residential purposes. The bill also repeals and amends several statutes that reference the "Statewide Non-Residential Development Fee Act."

AI Summary

Committee Categories

Dawn Fantasia (R)*, 

Introduced, Referred to Assembly Housing Committee (on 06/13/2024)

Official Document