Revises various provisions of the New Jersey Aspire Program.

The bill revises various provisions of the New Jersey Aspire Program, administered by the New Jersey Economic Development Authority (EDA). It modifies eligibility criteria for tax credits, including net positive benefit requirements and project cost thresholds. The bill also adjusts connection fee reductions for certain housing projects and introduces a five-year tax exemption for redevelopment projects. Additionally, it updates definitions and requirements for labor harmony agreements, community benefits agreements, and prevailing wage exemptions.

Revises various provisions of the New Jersey Aspire Program.

The bill revises various provisions of the New Jersey Aspire Program, administered by the New Jersey Economic Development Authority (EDA). It modifies eligibility criteria for tax credits, including net positive benefit requirements and project cost thresholds. The bill also adjusts connection fee reductions for certain housing projects and introduces a five-year tax exemption for redevelopment projects. Additionally, it updates definitions and requirements for labor harmony agreements, community benefits agreements, and prevailing wage exemptions.