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Bill > A4062
NJ A4062
NJ A4062Allows shared services agreement for certain warehouse developments specify size and sharing of costs and revenues associated with warehouse development.
summary
Introduced
02/12/2026
02/12/2026
In Committee
02/12/2026
02/12/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill amends the "Uniform Shared Services and Consolidation Act," P.L.2007, c.63 (C.40A:65-1 through C.40A:65-35) to allow local units entering into or renewing a shared services agreement for the development of a warehouse within their shared territories, pursuant to law, to specify terms and conditions related to sharing the costs and revenues of the warehouse development. The bill also requires that the agreement include information on the square footage of the warehouse. It is the sponsor's intent to give municipalities another tool to prevent the overdevelopment or underutilization of warehouses. Some municipalities are promised increased property tax revenue from warehouse developments, only to find that the pledge leaves them with many empty or under-used facilities and less property taxes than promised.
AI Summary
This bill amends the "Uniform Shared Services and Consolidation Act" to allow local government units, or "municipalities," that enter into or renew agreements for the development of warehouses within their shared areas to specify how the costs and revenues generated by these warehouse developments will be shared. The bill requires these agreements to include the total square footage of the warehouse, providing municipalities with a tool to manage warehouse development and prevent issues like underused facilities or unfulfilled tax revenue promises.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced, Referred to Assembly Commerce and Economic Development Committee (on 02/12/2026)
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/A4062 |
| BillText | https://pub.njleg.gov/Bills/2026/A4500/4062_I1.HTM |
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