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Bill > S3439
NJ S3439
NJ S3439Revises definition of qualified assistance fund expenses under UEZ program to include costs of transportation infrastructure projects and related debt service.
summary
Introduced
06/13/2024
06/13/2024
In Committee
06/26/2024
06/26/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
Revises definition of qualified assistance fund expenses under UEZ program to include costs of transportation infrastructure projects and related debt service.
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 or be pledged toward the repayment of loans for transportation infrastructure projects, provided such use is detailed in the municipality's zone development plan certified by the UEZ Authority. The bill also defines key terms related to transportation infrastructure and public transportation services.
Committee Categories
Business and Industry
Sponsors (5)
Last Action
Substituted by A4534 (2R) (on 06/28/2024)
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/S3439 |
| BillText | https://pub.njleg.gov/Bills/2024/S3500/3439_R1.HTM |
| Analysis - Statement SBA 6/26/24 | https://pub.njleg.gov/Bills/2024/S3500/3439_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S3500/3439_I1.HTM |
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