A 4914
Expands Brownfields Redevelopment Incentive Program to provide tax credits to developers of residential redevelopment projects undertaken on remediated brownfield sites.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill expands New Jersey’s Brownfields Redevelopment Incentive Program by providing tax credits to developers undertaking residential redevelopment projects on remediated brownfield sites. It aims to encourage the revitalization of contaminated properties and boost local economies. The program will be administered by the New Jersey Economic Development Authority and will prioritize projects in government-restricted municipalities. Developers must meet specific criteria, including demonstrating a project financing gap and ensuring worker wages comply with prevailing wage laws.
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