Requires cost-benefit analyses and local government financial impact findings for approval of long term property tax exemption; requires DCA to post Statewide database of these exemptions on its Internet website.

This bill requires municipalities to conduct and publicly post cost-benefit analyses before approving long-term property tax exemptions for redevelopment projects. It mandates that urban renewal entities submitting exemption applications include a detailed analysis of the project's financial impact on the municipality, county, school district, and other taxing districts. Municipalities must post both the applicant's analysis and their own independent assessment on their website (or DCA's website if they lack one), and the Department of Community Affairs must create a statewide database compiling all approved exemptions and their financial findings. These requirements directly affect municipalities making approval decisions, urban renewal projects seeking exemptions, and local governments bearing financial impacts from such exemptions. The goal is to increase transparency and ensure local governments can evaluate whether tax exemptions generate sufficient revenue returns.