A 4437
Provides CBT and GIT credits for undertaking of qualified moderate-income housing projects in certain distressed municipalities.
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates tax credits for businesses that build or renovate affordable housing in designated distressed municipalities in New Jersey. Specifically, it offers either 25% of construction costs or $1 million in credits, provided the project meets certain income requirements and is located in a qualifying municipality. The bill also allows for the transfer of these credits to other taxpayers, creating a market for affordable housing development incentives.
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.