Bill > S4747

Introduced Session

This bill extends certain provisions of the Casino Reinvestment Development Authority Urban Revitalization Program (incentive program) administered by the Casino Reinvestment Development Authority (CRDA). Established in 2001, the incentive program provides for grants to encourage the construction of new entertainment and retail venues in Atlantic City. Under the program, the CRDA is permitted to designate up to 11 entertainment-retail districts, each of which includes at least 150,000 square feet of entertainment, retail, dining, non-casino hotel space, or residential unit space. Upon entering into a project grant agreement with the CRDA, certain developers, including casino licensees, are permitted to develop district projects within each entertainment-retail district and receive incentives for the development of these projects. However, the CRDA is also permitted to develop district projects within an entertainment-retail district and receive incentives associated with these projects. As of April 10, 2025, there are three entertainment-retail districts available. Under current law, the incentives provided for a developer of a district project include: (1) a grant for the amount of sales taxes collected by the State for the construction materials used to build the project; (2) an annual grant, up to $2.5 million per year and up to 20 years in duration, based upon the amount of sales taxes generated on retail sales in the entertainment-retail district; and (3) an annual grant, up to 20 years in duration, based upon the amounts of the incremental luxury tax generated from the taxation of retail sales originating at the district project, as approved by the CRDA. Accordingly, current law limits the period of time in which a developer of a district project may receive annual incentive grants to 20 years following the date of completion of the project or until such time as the combined total annual incentive grants received by the developer from the project and room funds equals the approved cost of the district project, whichever is earlier. This bill would extend the duration of this authorization for an additional 20 years, allowing the developer of a district project to receive annual incentive grants for a maximum of 40 years following the completion of the project. Further, this bill would increase the limit on the combined total annual incentive grants a developer may receive during this period to an amount equal to five times the approved cost of the district project. This bill would also renew this authorization for the developers of district projects that have been completed at least 20 years prior to the effective date of this bill, or are otherwise no longer eligible to receive annual incentive grants from the project and room funds. Such district projects would be permitted to receive annual incentive grants for an additional 20 years following the effective date of this bill, or until the combined total of all annual incentive grants received by the developer for a district project equals five times the approved cost of the district project, whichever is earlier.

AI Summary

Committee Categories

Vince Polistina (R)*, 

Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 10/27/2025)

Official Document