Authorizes creation of an urban enterprise zone in Hoboken City, New Jersey.

The bill authorizes the creation of an urban enterprise zone (UEZ) in the City of Hoboken in Hudson County. The UEZ program, first authorized in 1983, aims to stimulate economic activity, increase or preserve residential amenities, and encourage community cooperation. The new UEZ in Hoboken will be one of a total of 33 UEZs. Qualified businesses in the UEZ are entitled to benefits, including a 50% exemption on sales and use taxes. The UEZ will be designated within 90 days of Hoboken submitting an application and zone development plan to the New Jersey Urban Enterprise Zone Authority.

Authorizes creation of an urban enterprise zone in Hoboken City, New Jersey.

The bill authorizes the creation of an urban enterprise zone (UEZ) in the City of Hoboken in Hudson County. The UEZ program, first authorized in 1983, aims to stimulate economic activity, increase or preserve residential amenities, and encourage community cooperation. The new UEZ in Hoboken will be one of a total of 33 UEZs. Qualified businesses in the UEZ are entitled to benefits, including a 50% exemption on sales and use taxes. The UEZ will be designated within 90 days of Hoboken submitting an application and zone development plan to the New Jersey Urban Enterprise Zone Authority.