SENATE COMMUNITY AND URBAN AFFAIRS COMMITTEE

STATEMENT TO

SENATE, No. 4734

STATE OF NEW JERSEY

DATED:  DECEMBER 4, 2025

      The Senate Community and Urban Affairs Committee reports favorably Senate Bill No. 4734.

      As reported, this bill authorizes the creation of an urban enterprise zone (UEZ), based upon certain poverty and population statistics, in Burlington City in Burlington County and expands the maximum from 32 to a total of 33 UEZs created under the UEZ program.  Pursuant to existing law, the UEZ authorized under the bill is to be designated within 90 days of the date the municipality submits an application and zone development plan to the New Jersey Urban Enterprise Zone Authority.  Qualified businesses in a UEZ are entitled to the benefits under the UEZ program, including, but not limited to, the collection of sales and use taxes on retail sales at a tax rate of half of the tax imposed under the "Sales and Use Tax Act."