"Atlantic City Urban Enterprise Zone and Property Tax Relief Act"; creates urban enterprise zone in Atlantic City for 10 years.

S 1231 creates a 10-year urban enterprise zone in Atlantic City, offering property tax relief to qualifying businesses operating within the designated area. To qualify, businesses must hire at least 25% of employees who are local residents or meet specific low-income hiring criteria (e.g., unemployed residents or public assistance recipients), maintain tax compliance, and not be casinos (though non-casino businesses on casino property may qualify). The bill amends existing urban enterprise zone laws to establish this new zone, focusing on economic development through tax incentives for businesses that meet these requirements. This policy directly affects Atlantic City businesses meeting the criteria and aims to stimulate local economic activity.