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News & Press: Legislative Updates

Legislative Update Week of Nov. 16

Friday, November 20, 2015   (0 Comments)
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Legislative Report Week of November 16

A-4521; Establishes the Main Street Economic Development Program passed out of the Assembly Commerce and Economic Development Committee Provides financial and technical assistance to businesses located in a Main Street area within a small municipality. The bill's purpose is to encourage business development in small municipalities with substantially developed commercial areas.

A-2580; Priority Consideration for Green Building passed out of Senate Environment and Energy Committee. Directs the Department of Community Affairs, the Department of Environmental Protection, the Department of Transportation, and municipal agencies to give priority consideration to permit applications for green building projects.

A-4275; "New Jersey Secure Choices Act" passed out of the Assembly Appropriations Committee. Creates a retirement savings program for private sector workers in the form of an automatic enrollment, payroll-deduction Individual Retirement Account (IRA). This legislation requires businesses who do not offer retirement savings accounts with less than 25 employees to allow enrollment in a state-facilitated savings plan.

SCR-180; Determines that DEP's proposal to revise Flood Hazard Area Control Act Rules, Coastal Zone Management Rules, and Stormwater Management Rules is inconsistent with legislative intent. Passed the Assembly Environment and Solid Waste Committee (Senate passed 24-13).

S-726 (combined with S-1257); Innovation Zone Program passed the Senate Economic Growth Committee. Establishes an innovation zone program to stimulate technology industry clusters around New Jersey's public universities or research hospitals. This bill is designed to keep New Jersey on the cutting edge of research and development.

S-3182; Deadline Extension for Developers passed the Senate Economic Growth Committee. Extends the deadline from April 26, 2017 to April 26, 2018 for a residential developer to submit documentation of its credit amount under the Urban Transit Hub Tax Credit Program for approval by the New Jersey Economic Development Authority. The bill also extends the deadline for a developer to submit information on the credit amount certified for any tax period from July 28, 2017 to July 28, 2018.

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