Permits formation of additional urban enterprise zone in Egg Harbor City, Atlantic County.
This bill authorizes the creation of an additional urban enterprise zone (UEZ) in Egg Harbor City, Atlantic County, based on certain poverty and population statistics. The UEZ is to be designated within 90 days of the municipality submitting an application and zone development plans to the New Jersey Urban Enterprise Zone Authority. Qualified businesses in the UEZ are entitled to benefits, including tax exemptions. The bill also outlines criteria for designating additional UEZs, including population thresholds and economic conditions.
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