New Jersey legislation · 2026-2027 Regular Session
New Jersey A5579: Neighborhood Revitalization Tax Credit Program-expand
Status: In committee, October 5, 2026
Expands Neighborhood Revitalization Tax Credit Program including eligible neighborhoods and annual tax credit limit.
What the bill says
An Act expanding the Neighborhood Revitalization Tax Credit Program and amending P.L.2001, c.415.
From the introduced text, October 5, 2026:
An Act expanding the Neighborhood Revitalization Tax Credit Program and amending P.L.2001, c.415. Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. Section 2 of P.L.2001, c.415 (C.52:27D-491) is amended to read as follows: 2. As used in P.L.2001, c.415 (C.52:27D-490 et seq.): "Assistance" means the contribution of moneys to aid in the provision of neighborhood preservation and revitalization services or community services. "Business entity" means any business firm or individual which is authorized to conduct or operate a trade or business in the State and is subject to taxes on business related income. "Certificate for neighborhood revitalization State tax credits" means the certificate in the form prescribed by the Treasurer and issued by the commissioner to a business entity that specifies the dollar amount of neighborhood preservation and revitalization State tax credits that business entity may take as an annual credit against certain State taxes pursuant to P.L.2001, c.415 (C.52:27D-490 et seq.). "Commissioner" means the Commissioner of Community Affairs. "Department" means the Department of Community Affairs. "Eligible neighborhood" means: a. a contiguous area located in one or more municipalities that, at the time of the application to the department for approval of a neighborhood preservation and revitalization plan, shall be designated by the commissioner based on factors including, but not limited to, …
Sponsors
- Maureen Rowan (D, 2) · primary sponsor
- Michael Venezia (D, 34) · primary sponsor
Latest actions
- : INT 1RA REF ASL
Subjects: LOCAL GOVERNMENT, TAXATION
Common questions
- What is A5579?
- A5579 is a bill in the New Jersey Legislature (2026-2027 Regular Session): Neighborhood Revitalization Tax Credit Program-expand.
- What does A5579 do?
- In its own words: An Act expanding the Neighborhood Revitalization Tax Credit Program and amending P.L.2001, c.415.
- What is the status of A5579?
- In committee as of October 5, 2026. Latest action: INT 1RA REF ASL (October 5, 2026).
- Who sponsored A5579?
- Maureen Rowan (D, 2), with 1 co-sponsor.
- Where is the official record for A5579?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/A5579
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.