Provides economic development incentives for remediating and redeveloping legacy landfills, brownfields, and contaminated sites.
This bill establishes the Landfills, Brownfields, and Contaminated Sites Redevelopment Incentive Program, which provides tax incentives for developers who remediate and redevelop legacy landfills, brownfields, and contaminated sites within designated redevelopment zones. Approved developers receive a 50% exemption from sales and use tax, exemptions for certain retail sales of tangible personal property and services, and exemptions for energy and utility services under specific conditions. To qualify, developers must complete remediation and redevelopment within seven years (with possible three-year extension), comply with environmental standards, pay prevailing wages to workers, and submit regular progress reports to the New Jersey Economic Development Authority and Department of Environmental Protection. The program limits participation to up to five approved applications over a five-year period, with the EDA administering the program and requiring annual reporting on its implementation and benefits.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2024
Committee Review
Floor Vote
Governor
Introduced Feb 15, 2024
Last action Feb 15, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
1
Key actions
0
Committee
0
Feb 15, 2024
Introduced
Introduced in the Senate, Referred to Senate Environment and Energy Committee
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Nilsa Cruz-Perez
DDemocratic
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