Sponsored by:
Assemblywoman VERLINA REYNOLDS-JACKSON
District 15 (Hunterdon and Mercer)
Assemblyman JOE DANIELSEN
District 17 (Middlesex and Somerset)
Assemblywoman MAUREEN ROWAN
District 2 (Atlantic)
Co-Sponsored by:
Assemblywoman Brennan
SYNOPSIS
Makes FY2026 supplemental appropriation of $30 million to DCA for Neighborhood Revitalization Tax Credit program.
CURRENT VERSION OF TEXT
As introduced.
A Supplement to the annual appropriations act for the fiscal year ending June 30, 2026, P.L.2025, c.74.
Be It Enacted by the Senate and the General Assembly of the State of New Jersey:
1. In addition to the amounts appropriated under P.L.2025, c.74, the annual appropriations act for the fiscal year ending June 30, 2026, there is appropriated from the General Fund the following amount for the purpose specified:
22 DEPARTMENT OF COMMUNITY AFFAIRS
40 Community Development and Environmental Management
41 Community Development Management
GRANTS-IN-AID
02-8020 Housing Services................................................ $30,000,000
Total Grants-in-Aid Appropriation,
Community Development Management ....... $30,000,000
Grants-in-Aid:
02 Neighborhood Revitalization
Tax Credit Program.......................... ($30,000,000)
2. This act shall take effect immediately.
STATEMENT
This bill appropriates an additional $30 million from the General Fund to the Department of Community Affairs (DCA) for the Neighborhood Revitalization Tax Credit program. The program provides grants to community nonprofit organizations that, under revitalization plans approved by the DCA, invest in local improvements to benefit low and moderate income neighborhoods.
The regular program is funded by business entities that provide funding for qualified projects, and thereby earn tax credits. This bill would provide $30,000,000 to support these neighborhood revitalization projects.