New Jersey S2916 revises eligibility requirements for the NJ Aspire Program, adding a net neutral benefits test for redevelopment projects with.
New Jersey S2916 amends the eligibility criteria for the New Jersey Aspire Program, a tax credit initiative aimed at encouraging redevelopment. The bill introduces a net neutral benefits test for redevelopment projects incurring sustainability and resiliency costs, such as carbon reduction initiatives and electric vehicle charging infrastructure. Projects must demonstrate a net neutral benefit to the state, excluding certain tax exemptions.
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