Authorizes creation of urban enterprise zone in Hoboken City.

S 1163 would authorize Hoboken City to establish a new urban enterprise zone. Businesses operating within this zone could qualify for tax incentives, including reduced sales tax collection, to stimulate economic development. To qualify, businesses must meet criteria like hiring local residents or meeting low-income employment targets, and maintain current tax obligations. This designation aims to boost job growth and business investment in Hoboken's designated area through targeted economic development programs.