A5709

Expands eligibility for "Cultural Arts Incentives Program" to include certain convention centers.

Expands the "Cultural Arts Incentives Program" to include certain convention centers as eligible for tax credits. The bill amends the definition of "cultural arts institution facility" to include convention centers, defined as facilities with at least 400,000 square feet of space for conventions, conferences, trade shows, and similar events, located in municipalities subject to the "Municipal Stabilization and Recovery Act." The New Jersey Economic Development Authority will award tax credits to cultural arts institutions for the establishment or redevelopment of cultural arts institution.