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Bill > S3388

NJ S3388

NJ S3388
Authorizes creation of urban enterprise zone in Hoboken City.

summary

Introduced
02/09/2026
In Committee
02/09/2026
Crossed Over
Passed
Dead

Introduced Session

2026-2027 Regular Session

Bill Summary

This bill authorizes the creation of an urban enterprise zone (UEZ) in the City of Hoboken in Hudson County. The UEZ authorized under this bill establishes a total of 33 UEZs created under the UEZ program, which was first authorized in 1983. The additional UEZ authorized under the bill is to be designated within 90 days of the date the municipality submits an application and zone development plan to the New Jersey Urban Enterprise Zone Authority. Qualified businesses in the additional UEZ designated under the bill are entitled to the benefits under the UEZ program, including, but not limited to, the collection of sales and use taxes on retail sales at a tax rate of half of the tax imposed under the "Sales and Use Tax Act."

AI Summary

This bill authorizes the creation of a 33rd urban enterprise zone (UEZ) in Hoboken City, New Jersey, as part of the existing UEZ program established in 1983. A UEZ is a designated area within a qualifying municipality intended to stimulate economic development. Businesses operating within this new zone, once designated by the New Jersey Urban Enterprise Zone Authority within 90 days of the city submitting an application and development plan, will be eligible for benefits under the UEZ program. A key benefit is the ability for qualified businesses to collect sales and use taxes on retail sales at half the standard rate imposed by the "Sales and Use Tax Act." The bill also makes technical amendments to existing laws defining terms related to the UEZ program and specifying criteria for designating additional zones.

Committee Categories

Housing and Urban Affairs

Sponsors (1)

Last Action

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 02/09/2026)
(2 Companion Bills)

bill text

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Document Type Source Location
State Bill Page https://www.njleg.state.nj.us/bill-search/2026/S3388
BillText https://pub.njleg.gov/Bills/2026/S3500/3388_I1.HTM
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