Requires cost-benefit analyses for long term tax exemption, and requires DCA to create database of exemptions; requires five-year tax exemption and abatement agreements to be filed with certain county officials.

S 4069 requires municipalities in New Jersey to conduct and publicly share cost-benefit analyses for long-term property tax exemptions (exceeding five years) before approving projects like urban renewal developments. It mandates that urban renewal entities include these analyses in applications, and municipal leaders must produce independent analyses for public review. The bill also directs the Department of Community Affairs (DCA) to create a public online database tracking all long-term tax exemptions and five-year tax agreement filings. Municipalities must submit five-year exemption agreements to county financial officers within 10 days of signing and provide annual reports on tax exemptions to county officials. This directly affects municipalities, urban renewal entities, and county governments by increasing transparency around tax exemption impacts on local finances.