Assembly Commerce and Economic Development Committee Statement to Assembly, No. 4690 (December 14, 2020)

Summary

An Assembly Commerce and Economic Development Committee statement to Assembly, No. 4690, State of New Jersey, dated December 14, 2020, reporting the bill favorably. The bill would make a municipality eligible for New Jersey Redevelopment Authority assistance if it had established a special improvement district at the initiation of a project. The statement says eligibility originally depended on the "Special Municipal Aid Act" or a "special needs district" under the "Quality Education Act of 1990." Under a 2015 amendment, the Commissioner of Community Affairs could nominate a municipality ranked in the top 20 percent of the Municipal Distress Index, for a five-year period, if no other municipality in the county qualified.

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ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT COMMITTEE

STATEMENT TO

ASSEMBLY,
No. 4690

STATE
OF NEW JERSEY

DATED: DECEMBER
14, 2020

The Assembly Commerce and Economic Development
Committee reports favorably Assembly Bill No. 4690.

This bill would expand the criteria for a municipality
to become eligible for assistance from the New Jersey Redevelopment Authority
(NJRA). Under the bill, a municipality would be eligible for NJRA assistance
if, at the time of the initiation of a project, the municipality had
established a special improvement district.

Originally, to qualify for NJRA assistance, at the
time of the “initiation of a project” a municipality had to either: be eligible
to receive aid under the "Special Municipal Aid Act," P.L.1987, c.75
(C.52:27D-118.24 et seq.), or be coextensive with a school district which
qualified for designation as a "special needs district" pursuant to
the "Quality Education Act of 1990," P.L.1990, c.52 (C.18A:7D-1 et
seq.). A 2015 amendment to the NJRA statute (P.L.2015, c.56) expanded the NJRA
eligibility criteria to permit the Commissioner of Community Affairs to
nominate a municipality within a county as a “qualified municipality,” for a
five-year period, if no other municipality within the county qualifies. Under
the 2015 amendment, a nominated municipality must have ranked in the top 20
percent of the Municipal Distress Index and be approved by NJRA’s board.

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