SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 1834

with committee amendments

STATE OF NEW JERSEY

DATED:  JUNE 4, 2026

      The Senate Budget and Appropriations Committee reports favorably and with committee amendments Senate Bill No. 1834.

      As amended and reported, this bill authorizes the creation of additional urban enterprise zones (UEZ), based upon certain poverty and population statistics, in Burlington City in Burlington County, and in the City of Hackensack in Bergen County.  The additional UEZs authorized under the bill are to be designated within 90 days of the date the municipalities submit an application and zone development plan to the New Jersey Urban Enterprise Zone Authority.  Qualified businesses in the additional UEZs designated under the bill 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."

COMMITTEE AMENDMENTS:

      In its original form, the bill authorized the creation of a UEZ in Burlington City in Burlington County.  The committee amended the bill to also authorize the creation of a UEZ in the City of Hackensack in Bergen County. 

      The committee further amended the bill to:

      (1)  update a reference to the most recently published, 2026, version of the State’s Municipal Revitalization Index;

      (2)  remove language that limited process timelines under the bill which required actions to be taken prior to the effective date of P.L.2021, c.197; and

      (3)  Provide that a UEZ designated under the bill is to remain a designated zone until the end of the 10^th State fiscal year next following the zone’s designation.

FISCAL IMPACT:

      Fiscal information for this bill is currently unavailable.