Bill > A6194

This bill authorizes the creation of an additional Urban Enterprise Zone (UEZ) in Burlington City, Burlington County, bringing the total number of UEZs in New Jersey to 33. The bill amends existing law to add this new zone to the state's UEZ program, which was originally established in 1983. The new zone will be designated within 90 days of the municipality submitting an application and zone development plan to the New Jersey Urban Enterprise Zone Authority. Qualified businesses in this new UEZ will receive several benefits, most notably the ability to collect sales tax at half the normal rate (50% of the standard sales tax) for transactions occurring within the enterprise zone. The bill specifically adds a tenth criterion to the existing list of priority considerations for UEZ designation, focusing on municipalities with a poverty rate of at least 12 percent according to the 2023 Municipal Revitalization Index, and with a population between 9,000 and 11,000 in the county with the lowest population density. This addition continues the state's efforts to support economic development in economically distressed areas by providing tax incentives and other benefits to businesses that locate and operate in these designated zones.