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Bill > S942
NJ S942
NJ S942Concerns UEZ assistance fund expenses by specifically including certain property acquisition under definition of "qualified assistance fund expense."
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill amends the "New Jersey Urban Enterprise Zones Act," P.L.1983, c.303 (C.52:27H-60) to specify that the definition of "qualified assistance fund expense" includes purchasing, leasing, or otherwise acquiring land or other property.
AI Summary
This bill amends the "New Jersey Urban Enterprise Zones Act" to clarify that expenses related to acquiring land or other property, whether through purchasing, leasing, or other means, are considered "qualified assistance fund expenses." This means that funds from the Enterprise Zone Assistance Fund can now be used for these property acquisition costs, which can be applied to construction projects, loans, grants, guarantees to businesses, and improvements to public infrastructure within designated enterprise zones. The Urban Enterprise Zones (UEZ) program aims to revitalize economically distressed urban areas by providing incentives for businesses.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee (on 01/13/2026)
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/2026/S942 |
| BillText | https://pub.njleg.gov/Bills/2026/S1000/942_I1.HTM |
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