COMMUNITY-ANCHORED DEVELOP

Creates the Community-Anchored Development Act. Provides that the Department of Commerce and Economic Opportunity may establish a Community-Anchored Development Program to invest in and incentivize the expansion of targeted industries in the State and the continued development of certain areas of the State through the provision of tax credits to anchor institutions. Provides that an "anchor institution" is a governmental entity or nonprofit entity that is a comprehensive health care system, a public research university, a private research university, a major cultural scientific, research, and philanthropic institution, or a public college which is separate from a public research university.