New Jersey legislation · 2026-2027 Regular Session
New Jersey S4594: Shopping centers, distressed-allows CBT credit as incentive for redevelopment
Status: In committee, September 28, 2026
Allows corporation business tax credits as incentives for redevelopment of distressed shopping centers.
What the bill says
An Act establishing tax credits for redevelopment of certain retail properties and supplementing P.L.1974, c.80 (C.34:1B-1 et seq.) and P.L.1945, c.162 (C.54:10A-1 et seq.).
From the introduced text, September 28, 2026:
An Act establishing tax credits for redevelopment of certain retail properties and supplementing P.L.1974, c.80 (C.34:1B-1 et seq.) and P.L.1945, c.162 (C.54:10A-1 et seq.). Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. As used in P.L. , c. (C. ) (pending before the Legislature as this bill): Authority means the New Jersey Economic Development Authority established pursuant to section 4 of P.L.1974, c.80 (C.34:1B-4). Developer means the legal or beneficial owner or owners of a lot or of any land in this State, occupied by a distressed shopping center. Distressed shopping center means a privately owned and operated commercial development, developed, owned, and managed as a unit, consisting of a building or series of buildings on a common site, having at least 35,000 square feet of rental space for lease to at least three retail stores or service establishments, and an adjacent parking area to which the public is invited. Provided further, that the shopping center shall have met these requirements for a period of at least 10 years prior to the year for which the developer of the shopping center is first deemed eligible by the authority, pursuant to section 2 of P.L. , c. (C. ) (pending before the Legislature as this bill), to receive the credit allowed under section …
Sponsors
- Nilsa I. Cruz-Perez (D, 5) · primary sponsor
Latest actions
- : INT 1RS REF SEG
Subjects: TAXATION - BUSINESS TAXES, CORPORATIONS, ECONOMIC DEVELOPMENT - INTERNATIONAL, STATE AND REGIONAL
Common questions
- What is S4594?
- S4594 is a bill in the New Jersey Legislature (2026-2027 Regular Session): Shopping centers, distressed-allows CBT credit as incentive for redevelopment.
- What does S4594 do?
- In its own words: An Act establishing tax credits for redevelopment of certain retail properties and supplementing P.L.1974, c.80 (C.34:1B-1 et seq.) and P.L.1945, c.162 (C.54:10A-1 et seq.).
- What is the status of S4594?
- In committee as of September 28, 2026. Latest action: INT 1RS REF SEG (September 28, 2026).
- Who sponsored S4594?
- Nilsa I. Cruz-Perez (D, 5).
- Where is the official record for S4594?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/S4594
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.