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.

This bill requires developers seeking long-term property tax exemptions (e.g., for urban renewal projects) to submit a cost-benefit analysis showing impacts on local government revenues and services, including effects on schools and municipal budgets. Municipalities must publish these analyses online within 30 days. It also mandates the state Department of Community Affairs to create a public database tracking all approved tax exemption agreements, including their financial details, sorted by municipality. The law directly affects developers, municipalities, and local taxing districts (like school boards) involved in tax exemption decisions. It aims to increase transparency around tax exemption approvals without changing the exemption process itself.