All Roll Calls
Yes: 95 • No: 16
New JerseyS3097220th Legislature (2024-2025)SenateWALLET
Modifies requirements for certain projects under Economic Redevelopment and Growth Grant program.
Sponsored By: Pou, Nellie, Paul A. Sarlo (Democratic), Sumter, Shavonda E., Benjie E. Wimberly (Democratic)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 3 benefits, 1 costs, 0 mixed.
More infrastructure qualifies for redevelopment grants
New Jersey's Economic Redevelopment and Growth Grant program now includes zero-emission vehicle infrastructure, such as public electric chargers and hydrogen stations. Projects can also include listed improvements outside their project boundaries but within their incentive areas. These include docks, bulkheads, parking garages, public electric chargers, freight rail spurs, roadway overpasses, and train platforms. Developers or municipal redevelopers must show that, without the off-site improvement, the project would not be economically viable or promote public transportation. The State Treasurer must approve the off-site improvement; these eligibility changes set no grant amount.
Easier updates for municipal parking projects
Beginning September 12, 2024, developers of designated visitor- or youth-center parking projects can amend applications or assign them to municipal redevelopers. They can remove either center or both, but the remaining project must qualify as mixed-use parking and retain its category's grant maximum. Municipal redevelopers can also request updates to existing mixed-use parking approvals when construction has not begun beyond demolition or site work. The authority must review and approve those updates, with no application fee. Required-action dates in those approvals automatically receive the law's 30-month extension tied to the temporary occupancy certificate deadline.
More grant support for municipal parking
For municipal mixed-use parking projects undertaken after September 12, 2024, in statutory categories (vi) or (viii), awarded grants cover 100% of parking costs and 40% of non-parking costs. The non-parking share rises to 80% for sites with a prior unissued tax-credit award or entertainment venues seating more than 5,000. That 80% share also applies to visitor or youth centers within or next to a national historic park. Separately, municipal mixed-use parking projects whose construction did not begin before March 9, 2020, can count additional project costs. The New Jersey Economic Development Authority's chief executive decides whether to include land cost or value, demolition, equity contributions, and costs funded by State or local governments, consistent with applicable law.
Parking developers face deadlines and building standards
Municipal redevelopers with awarded grants must submit a temporary certificate of occupancy by June 30, 2028. This applies to mixed-use parking projects undertaken after September 12, 2024, in statutory categories (vi) or (viii). Beginning September 12, 2024, covered proposed mixed-use parking projects must also meet Leadership in Energy and Environmental Design (LEED) standards. That building requirement applies only when the United States Green Building Council has issued standards for the project type.
Sponsors & Cosponsors
Sponsors
Pou, Nellie
Affiliation unavailable
Paul A. Sarlo
Democratic • Senate
Sumter, Shavonda E.
Affiliation unavailable
Benjie E. Wimberly
Democratic • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 6/28/2024
3RDG FINAL PASSAGE
Yes: 55 • No: 16
Senate vote • 6/28/2024
3RDG FINAL PASSAGE
Yes: 40 • No: 0
Actions Timeline
Approved by Governor — P.L.2024. c.71.
9/12/2024GovernorPassed Assembly, PBH — (55-16-0)
6/28/2024HouseSubstituted for A4226 (1R)
6/28/2024HouseReceived in Assembly, Without Reference, 2nd Reading in Assembly
6/28/2024HousePassed Senate — (40-0)
6/28/2024SenateReported, 2nd Reading in Senate
6/24/2024SenateReferred to Senate Budget and Appropriations Committee
5/16/2024SenateReported, 2nd Reading in Senate
5/16/2024SenateIntroduced, 1st Reading in Senate, Referred to Senate Economic Growth Committee
4/11/2024Senate
Bill Text
Version PL2024
11/7/2024
Version AL2024
9/30/2024
7/3/24; as introduced
7/3/2024
As Introduced
7/3/2024
Senate Budget and Appropriations Substitute (6/24/24)
6/25/2024
Senate Economic Growth Substitute (5/16/24)
6/20/2024
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