Long Term Tax Exemption Law

Sets forth application procedures and standards for payments-in-lieu of taxes agreements, having a duration of up to 35 years, for projects in an "area in need of redevelopment"

Responsible Agency: Individual municipal governing bodies

Statute: N.J.S.A. 40A:20-1 et seq.

Relevant case law:
Secaucus Town v. Jersey City, 19 N.J. Tax 10 (2000), modified on reconsideration, 19 N.J. Tax 538.

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Five-Year Tax Exemption and Abatement Law

Sets forth application procedures and standards for tax exemptions and abatements, having a duration of up to 5 years, for projects in an "area in need of rehabilitation"

Responsible Agency: Individual municipal governing bodies

Statute: N.J.S.A. 40A:21-1 et seq.

Relevant case law:
Seventy Five P-B Corp. v. Town of Phillipsburg, 18 N.J. Tax 71 (1999)

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New Jersey Urban Redevelopment Act

Establishes New Jersey Redevelopment Authority and sets forth priorities for financing redevelopment projects

Responsible Agency: New Jersey Redevelopment Authority

Statute: N.J.S.A. 55:19-20 et seq.

Relevant case law: None

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Redevelopment Area Bond Financing Law

Provides for the issuance of bonds to finance redevelopment projects

Responsible Agency: Individual municipalities

Statute: N.J.S.A. 40A:12A-64 et seq.

Relevant case law: None

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Revenue Allocation District Financing Act

Authorizes the use of revenue allocation financing by municipalities and the dedication of payments in lieu of taxes toward the retirement of debt incurred to implement redevelopment projects

Responsible Agency: Local Finance Board (Division of Local Government Services in the Department of Community Affairs)

Statute: N.J.S.A. 52:27D-459 et seq.

Relevant case law: None

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New Jersey Urban Enterprise Zones Act

Provides for the designation of urban enterprise zones and associated tax incentives.

Responsible Agency: Urban Enterprise Zone Authority

Statute: N.J.S.A. 52:27H-60 et seq.

Rules: N.J.A.C. 12A:120-1.1

Relevant case law: None