Authorizes creation of urban enterprise zone in Hoboken City.

S 3388, sponsored by Senator Raj Mukherji, authorizes the creation of an urban enterprise zone in Hoboken City. This bill amends existing law to designate Hoboken as a qualifying municipality for enterprise zone benefits, allowing businesses operating within the zone to qualify for tax incentives. To qualify, businesses must meet specific criteria, including having at least 25% of full-time employees who are residents of the zone, unemployed for six months, or low-income individuals meeting federal Workforce Investment Act standards. The zone would offer reduced sales tax collection benefits for qualifying businesses under the state's enterprise zone program, directly affecting businesses and workers in Hoboken's designated area.