Town Crier

The Town Crier - Legislative Backgrounder

NJLM's Legislative Blog

Jan 14

League Urges Legislature to Act in Response to Federal Court Decision

Posted on January 14, 2021 at 4:04 PM by Legislative Staff

On December 30, 2020, the United States District Court for the District of New Jersey issued a ruling inRosedale and Rosehill Cemetery Association v. Twp. of Readington.  This matter involved a challenge of the Readington Township municipal governing body’s denial of an application to construct a large cemetery in Readington Township.  The Township’s denial was authorized under the New Jersey Cemetery Act (N.J.S.A. 45:27-25, et seq), which, among other things, grants a municipality the power to consent to the establishment or enlargement of cemeteries within its borders.  The gravamen of the Plaintiff’s challenge was that Act is unconstitutional because it was void for vagueness.     

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Jan 07

NJ Economic Recovery Act of 2020: New Jersey Innovation Evergreen Act (Sections 20-34 of A-4)

Posted on January 7, 2021 at 4:54 PM by Legislative Staff

The "New Jersey Innovation Evergreen Act" auctions tax credits for cash that will be used to invest in innovation as a catalyst for economic growth and advance the competitiveness of the State’s businesses in the global economy. The Economic Development Authority (EDA) must auction up to $300 million in tax credits in annual amounts not to exceed the limitations established by this bill.

Some pertinent terms defined in the bill include:

Follow-on investment” A subsequent investment made by an investor who has a previous investment in a New Jersey high-growth business.
  

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Jan 07

Brownfields Redevelopment Incentive Program (sections 9-19 of A-4)

Posted on January 7, 2021 at 11:54 AM by Legislative Staff

The “Brownfields Redevelopment Incentive Program Act" provides tax credits to compensate developers of redevelopment projects located on brownfield sites for remediation costs.

Some pertinent terms defined in the bill include:

“Brownfield site” Any former or current commercial or industrial site that is currently vacant or underutilized, and where there is or was suspected to have been a discharge of a contaminant or where there is contaminated building material.

“Contaminated building material” Components of a structure where abatement or removal of asbestos or remediation of materials containing hazardous substance defined by N.J.S.A. 58:10-23.11b, is required by applicable federal, state, or local rules.

“Project financing gap” Part of the total remediation cost, including reasonable and appropriate return on investment, that remains to be financed after all other sources of capital have been accounted for, including, but not limited to:

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