reglab/statecodes huggingface dataset:
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31T - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Subchapter 1 - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Section 19:31T-1.6 - Tax credit amounts; bonus amount; carryforward of tax credits

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An approved
				  applicant, upon final approval of an application to the Authority and the
				  Director for film tax credits pursuant to N.J.A.C. 19:31T-1.7(e), shall be
				  allowed a credit against the tax imposed pursuant to
				  N.J.S.A.
				  54:10A-5 or the tax otherwise due for the
				  taxable year pursuant to
				  N.J.S.A.
				  54A:1-1 et seq., corresponding to the tax
				  credit vintage year, in an amount equal to:
1. For applications received prior to July 2,
				  2021, 35 percent of the qualified film production expenses of the approved
				  applicant during a privilege period or taxable year that are incurred for
				  services performed and tangible personal property purchased through vendors
				  whose primary place of business is located in Atlantic, Burlington, Camden,
				  Cape May, Cumberland, Gloucester, Mercer, or Salem County.
2. For applications received prior to January
				  7, 2021, 30 percent of the qualified film production expenses not included at
				  (a)1 above.
3. For applications
				  received on or after January 7, 2021, and prior to July 2, 2021, 35 percent of
				  the qualified film production expenses of the approved applicant during a
				  privilege period or taxable year.
4. For applications received on or after July
				  2, 2021, the following percent of the qualified film production expenses of the
				  approved applicant during a privilege period or taxable year:
i. For such expenses that are incurred for
				  services performed and tangible personal property purchased for use at a sound
				  stage or other location that is located in the State within a 30-mile radius of
				  the intersection of Eighth Avenue/Central Park West, Broadway, and West 59th
				  Street/Central Park South, New York, New York:
(1) For applications received after July 6,
				  2023, 35 percent for applications from film-lease production companies and
				  studio partners; and
(2) For all
				  other applications, 30 percent.
ii. For all other expenses:
(1) For applications received after July 6,
				  2023, 40 percent for applications from film-lease production companies and
				  studio partners; and
(2) For all
				  other applications, 35 percent.
5. For purposes of this subsection, wages,
				  salaries, and other compensation shall be considered Statewide
				  expenses.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31T - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Subchapter 1 - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Section 19:31T-1.7 - Evaluation process for tax credits; initial approval for tax credits, award of tax credits

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
				  Applications for film tax credits shall be submitted to the Commission, which,
				  upon review for content eligibility, will forward the application to the
				  Authority with the Commission's recommendation.
1. The application for tax credits shall be
				  considered by the Authority for initial approval on a first in time basis,
				  subject to the annual caps at N.J.A.C. 19:31T-1.11.
2. At initial approval, the Authority will
				  designate the maximum amount of the tax credit and will assign a tax credit
				  vintage year to the tax credit. To assist the Authority in reviewing the
				  application, the Authority may retain a third-party consultant, at the cost of
				  the applicant, to review the budget submitted by the applicant to determine if
				  the qualified film or digital media expenses are reasonable based on industry
				  standards.
3. The Authority shall
				  issue an initial approval letter to the approved applicant that will include
				  conditions subsequent to receipt of the tax credit including, but not limited
				  to, the requirement for progress reports and the date by when final
				  documentation pursuant to (b) below is required. The approval letter shall
				  constitute the non-binding, administrative pre-certification process for
				  potentially eligible projects. Failure to submit timely periodic reports that
				  demonstrate satisfactory progress or timely final documentation may lead to the
				  forfeiture of the tax credit.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31T - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Subchapter 1 - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Section 19:31T-1.8 - Evaluation process and designation of studio partner and film-lease partner facility

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An
				  application for designation as a studio partner or a film-lease partner
				  facility shall be submitted to the Authority.
(b) The completed application for designation
				  as a studio partner or film-lease partner facility shall be considered by the
				  Authority for approval on a first in time basis. If interest in studio partner
				  or film-lease partner facility designation so warrants, at the Authority's
				  discretion, and upon notice, the Authority may institute a competitive
				  application process whereby all completed applications submitted by a date
				  certain will be evaluated as if submitted on that date.
(c) To assist the Authority in designating a
				  studio partner or film-lease partner facility, the Authority may employ an
				  independent consultant, at the cost of the applicant, or may consult with the
				  Commission.
(d) Upon review of the
				  application, the Authority's Board shall consider whether to designate the
				  applicant as a studio partner or film-lease partner facility pursuant to
				  N.J.A.C. 19:31T-1.3(d) and (e), respectively. The designation shall expire at
				  the end of the studio partner's commitment period.
1. Effective upon designation as a studio
				  partner, a film production company shall be eligible for a credit as a studio
				  partner pursuant to this subchapter, provided the film production company
				  otherwise complies with the eligibility requirements of the program.
2. A film production facility may receive its
				  film-lease partner facility designation prior to executing an equity agreement
				  with the Authority provided final approval of such agreement occurs on or
				  before the date on which production commences at the
				  facility.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31T - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Subchapter 1 - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Section 19:31T-1.12 - Affirmative action; and prevailing wage

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Authority's affirmative action
				  requirements,
				  N.J.S.A.
				  34:1B-5.4, and prevailing wage requirements,
				  N.J.S.A.
				  34:1B-5.1, shall apply to the qualified film
				  production expenses and the qualified digital media content production
				  expenses, including, but not limited to, the following:
1. Construction contracts for work performed
				  on or after the Authority's initial approval; and
2. Construction contracts for work performed
				  before the application and after February 26, 2024.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31T - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Subchapter 1 - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Section 19:31T-1.13 - Appeals

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board's
				  action shall be effective 10 business days after the Governor's receipt of the
				  minutes, provided neither an early approval nor veto has been issued.
(b) An applicant may appeal the Authority's
				  action by submitting, in writing, to the Authority, within 20 calendar days
				  from the effective date of the Authority action, an explanation as to how the
				  applicant has met the program criteria. Such appeals are not contested cases
				  subject to the requirements of the Administrative Procedure Act,
				  N.J.S.A.
				  52:14B-1 et seq., and 52:14F-1 et seq., and
				  the Uniform Administrative Procedure Rules, N.J.A.C. 1:1.
(c) Appeals that are timely submitted shall
				  be handled by the Authority as follows:
1. The
				  Chief Executive Officer shall designate an employee of the Authority to serve
				  as a hearing officer for the appeal and to make a recommendation on the merits
				  of the appeal to the Board. The hearing officer shall perform a review of the
				  written record and may require an in-person hearing. The hearing officer has
				  sole discretion to determine if an in-person hearing is necessary to reach an
				  informed decision on the appeal. Unless the application was submitted in
				  response to a competitive application process, the Authority may consider new
				  evidence or information that would demonstrate that the applicant meets all of
				  the application criteria.
2.
				  Following completion of the record review and/or in-person hearing, as
				  applicable, the hearing officer shall issue a written report to the Board
				  containing his or her finding(s) and recommendation(s) on the merits of the
				  appeal. The hearing officer's report shall be advisory in nature. After
				  reviewing the report, the Chief Executive Officer of the Authority may also
				  include a recommendation to the written report of the hearing officer. The
				  applicant shall receive a copy of the written report of the hearing officer,
				  which shall include the recommendation of the Chief Executive Officer, if any,
				  and shall have the opportunity to file written comments and exceptions to the
				  hearing officer's report within five business days from receipt of such
				  report.
3. The Board shall consider
				  the hearing officer's report, the recommendation of the Chief Executive
				  Officer, if any, and any written comments and exceptions timely submitted by
				  the applicant. Based on that review, the Board shall issue a final decision on
				  the appeal.
4. Final decisions
				  rendered by the Board shall be appealable to the Superior Court of New Jersey,
				  Appellate Division, in accordance with the Rules Governing the Courts of the
				  State of New Jersey.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31T - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Subchapter 1 - GARDEN STATE FILM AND DIGITAL MEDIA JOBS PROGRAM › Section 19:31T-1.14 - Appeals

Current through Register Vol. 56, No. 14, July 15, 2024
If any section, subsection, provision, clause, or portion
					 of this subchapter is adjudged to be unconstitutional or invalid by a court of
					 competent jurisdiction, the remaining portions of this subchapter shall not be
					 affected thereby.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.1 - Applicability and scope

Current through Register Vol. 56, No. 14, July 15, 2024
The rules in this subchapter are promulgated by the New
					 Jersey Economic Development Authority to implement the provisions of the New
					 Jersey Economic Recovery Act of 2020, establishing the Emerge Program Act
					 (Act), sections 68 through
					 81 of
					 P.L.
					 2020, c. 156, as
					 amended by P.L. 2021, c.
					 160. The Act authorizes the Authority to
					 administer the program to encourage economic development, job creation, and the
					 retention of significant numbers of jobs in imminent danger of leaving the
					 State. The Authority Board may approve the award of tax credits to a business
					 upon application of the business demonstrating its eligibility under the Act
					 and this subchapter and following the execution of a letter of intent and the
					 payment of fees, subject to the limitations set forth in this subchapter. The
					 value of all tax credits approved by the Authority for businesses eligible
					 pursuant to
					 section
					 71 of
					 P.L.
					 2020, c. 156 shall be
					 subject to the limitations set forth at
					 section
					 98 of
					 P.L.
					 2020, c.
					 156.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.4 - Restrictions

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Authority
				  shall not enter into a commitment agreement with a business that has previously
				  received incentives administered by the Authority unless the capital investment
				  incurred and new or retained full-time jobs pledged by the business in the new
				  commitment agreement are separate and apart from any capital investment or jobs
				  underlying the previous award of incentives.
(b) A project that consists solely of final
				  point-of-sale retail facilities shall not be eligible for a grant of tax
				  credits. If a project consists of both final point-of-sale retail facilities
				  and non-retail facilities, only the portion of the project consisting of
				  non-retail facilities shall be eligible for a grant of tax credits. If a
				  warehouse facility is part of a final point-of-sale retail facility and
				  supplies only that facility, the warehouse facility shall not be eligible for a
				  grant of tax credits. For the purposes of this subsection, a tourism
				  destination project in the Atlantic City Tourism District as established
				  pursuant to section 5 at
				  P.L.
				  2011, c. 18
				  (N.J.S.A.
				  5:12-219), shall not be considered final
				  point-of-sale retail facility.
(c)
				  For the purposes of the certifications and annual reports required pursuant to
				  the commitment agreement and set forth at N.J.A.C. 19:31U-1.9(f) and 1.10(a)5,
				  if a business has received an award for both new and retained full-time jobs,
				  the business shall meet the employment requirements related to the retained
				  full-time jobs before receiving benefits for new full-time jobs.
1. To the extent an eligible retained
				  full-time job that was the basis of the award no longer exists, the business
				  shall include as a retained full-time job, a new eligible position that is
				  filled by a full-time employee, provided that the position is included in the
				  order of date of hire and is not the basis for any other incentive
				  award.
2. If a qualified business
				  facility comprises a complex of buildings with different factors affecting the
				  tax credit calculation, the business shall meet the employment requirements
				  related to the retained full-time jobs at, or associated with, each building
				  before receiving benefits for new full-time jobs at, or associated with, any
				  building. The business shall include as a retained full-time job, a new
				  eligible position that is filled by a full-time employee, regardless of the
				  location of such position, provided that the position is included in the order
				  of date of hire and is not the basis for any other incentive award, and shall
				  be paid at the lower of the tax credit for the new eligible position filled by
				  a full-time employee or the tax credit for the retained full-time job that no
				  longer exists.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.6 - Fees

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A business
				  applying for benefits under this program shall submit a one-time non-refundable
				  application fee. The application fee shall be as follows:
1. For projects with 99 or fewer new and
				  retained full-time jobs, the fee to be charged at application shall be $
				  5,000;
2. For projects with 100 to
				  249 new and retained full-time jobs, the fee to be charged at application shall
				  be $ 10,000;
3. For projects with
				  250 or more new and retained full-time jobs, but not considered a mega project,
				  the fee to be charged at application shall be $ 15,000; and
4. For applicants that are seeking a mega
				  project, the fee to be charged at application shall be $
				  25,000.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.7 - Review of completed application

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A business seeking an approval of tax
				  credits for a project shall apply for tax credits prior to March 1,
				  2027.
(b) The Authority shall
				  conduct a review of the applications commencing with the completed application
				  bearing the earliest submission date or if interest in the program so warrants,
				  at the Authority's discretion, and upon notice, the Authority may institute a
				  competitive application process whereby all completed applications submitted by
				  a date certain will be evaluated as if submitted on that date. The review will
				  determine whether the applicant:
1. Complies
				  with the eligibility criteria;
2.
				  Satisfies the submission requirements; and
3. Provides adequate information for the
				  subject application.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.8 - Determination of grant amount; bonus award

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The total amount of the tax credit for an
				  eligible business for each new or retained full-time job shall be as set forth
				  in this section. The total tax credit amount shall be calculated and credited
				  to the business annually for each year of the eligibility period. Unless the
				  business demonstrates to the Authority's satisfaction that a new or retained
				  full-time job is primarily working at the qualified business facility, the tax
				  credit for the full-time job shall be calculated with the base amount for a
				  qualified business facility in other eligible areas and shall not include the
				  bonuses at (d)1, 2, 6, 7, 9, 13, 15, 16, and 17 below.
(b) For a project that has a complex of
				  buildings, the total amount of tax credit shall be calculated by combining the
				  jobs in buildings that have the same factors set forth in this section that
				  affect the tax credit calculation. Subject to N.J.A.C. 19:31U-1.4(c) and (d),
				  the total amount of tax credit shall be calculated separately for jobs in a
				  building with factors that are different than the factors affecting the
				  calculation for jobs in the other buildings in a complex of buildings,
				  including location of the buildings. Notwithstanding that the total tax credit
				  for jobs in different buildings may be calculated separately, forfeitures
				  pursuant to N.J.A.C. 19:31U-1.14 and defaults and recaptures included in the
				  commitment agreement pursuant to N.J.A.C. 19:31U-1.9(b)6 shall be based on the
				  aggregate capital investment and eligible full-time jobs.
(c) The base amount of the tax credit for
				  each new or retained full-time job for an eligible business shall be as
				  follows:
1. For a qualified business facility
				  located within a government-restricted municipality, or that is a mega project,
				  $ 4,000 per year;
2. For a
				  qualified business facility located within an enhanced area, $ 3,500 per
				  year;
3. For a qualified business
				  facility located within a distressed municipality, $ 3,000 per year;
4. For a project in a qualified opportunity
				  zone or an employment and investment corridor, $ 2,500 per year; and
5. For a project in other eligible areas, $
				  500.00 per year.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.9 - Approval letter and commitment agreement

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Following approval by the Board, but
				  before the issuance of tax credits, the Authority shall require an eligible
				  business to execute and return an approval letter to the Authority. The Board's
				  award of the credits will be subject to conditions subsequently set forth in
				  the approval letter. The conditions in the approval letter must be met in order
				  to retain the approval of the tax credits prior to their issuance and receipt
				  by the business pursuant to (h) below. Such conditions shall include, but not
				  be limited to, the requirement to provide an estimated date of completion of
				  the project; submission of periodic progress reports; submission of the
				  information required at (a)2 below; the requirement that the project complies
				  with the prevailing wage requirements at
				  P.L.
				  2020, c. 156 and
				  N.J.A.C. 19:31U-1.3(b)8 and the Authority's affirmative action requirements
				  pursuant to P.L. 1979, c. 303 (N.J.S.A. 34:1B-5.4)
				  and N.J.A.C. 19:30-3; that the project does not violate any environmental law
				  requirements, including, but not limited to, Flood Hazard Area Control Act
				  Rules, N.J.A.C. 7:13; and that the business submit a plan to meet the minimum
				  environmental and sustainability standards.
1. The approval letter shall state the period
				  within which the business must provide to the Authority evidence that the
				  conditions have been met.
2.
				  Commencing with the date six months following the date the Authority and an
				  eligible business execute the approval letter, the eligible business shall be
				  required to demonstrate that it has obtained site plan approval for, as
				  applicable, has committed financing for, as applicable, and has site control
				  of, the qualified business facility in accordance with the time periods set
				  forth in this paragraph, unless otherwise modified in the approval of the
				  application by the Board.
i. Within the later
				  of 12 months following the date of application approval by the Authority or six
				  months following the date of execution of the approval letter, each approved
				  business shall submit the information required at (a)2 above, except that a
				  business shall have until the later of 24 months from the date of application
				  approval or six months following the date of execution of the approval letter
				  to submit such information for a qualified business facility that consists of
				  new construction.
ii. Absent
				  extenuating circumstances or the Authority's determination in its sole
				  discretion, the Authority's approval of the tax credits shall expire if the
				  information required at (a)2 above is not received by the Authority within the
				  required period of time.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.10 - Reporting requirements and annual reports

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An eligible business that is awarded tax
				  credits under the program shall submit, annually, commencing in the year in
				  which the grant of tax credits is issued and for the remainder of the
				  commitment period, a report that indicates that the eligible business continues
				  to maintain the number of new and retained full-time jobs and provides the
				  salaries specified in the commitment agreement, including, but not limited to:
1. A certification, made pursuant to an
				  agreed upon procedures letter acceptable to the Authority, of a qualified
				  independent certified public accountant, which shall be qualified by the
				  Authority pursuant to N.J.A.C. 19:31U-1.9(f)3, containing the following:
i. The number of full-time employees and new
				  or retained full-time jobs employed in the State;
ii. The list of affiliates that contributed
				  to the full-time employees in the State;
iii. The number of full-time employees in the
				  business's Statewide workforce;
iv.
				  The number of full-time employees in New Jersey in the last tax period prior to
				  the credit amount approval of any affiliate that contributed to the full-time
				  employees and was not listed in the application; and
v. A copy of the business's applicable New
				  Jersey tax return showing business income and withholdings as a condition of
				  its continuation in the program, and the quarterly wage report required
				  pursuant to
				  N.J.S.A.
				  43:21-14 submitted to the Department of Labor
				  and Workforce Development together with an annual payroll report showing:
(1) The new full-time jobs that were created
				  in accordance with the project agreement;
(2) The new full-time jobs created during
				  each subsequent year of the commitment period; and
(3) The withholdings and salaries, as
				  measured by the median salary, of the new and retained full-time jobs created
				  and the amount of withholdings paid to New
				  Jersey;
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.13 - Cap on total credits

Current through Register Vol. 56, No. 14, July 15, 2024
The combined value of all credits approved by the Authority
					 pursuant to this program shall be subject to limitations set forth at
					 section
					 98 of
					 P.L.
					 2020, c. 156. The
					 amount of available tax credit shall be posted at the beginning of each
					 calendar year on the website of the Authority.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.16 - Affirmative action and prevailing wage

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Authority's affirmative action
				  requirements at P.L. 1979, c. 203 (N.J.S.A.
				  34:1B-5.4) and N.J.A.C. 19:30-3 shall apply
				  to construction contracts at the qualified business facility undertaken in
				  connection with financial assistance received under the program. The
				  affirmative action requirements shall apply for two years after the first
				  certificate of compliance is issued.
(b) The Authority's prevailing wage
				  requirements at
				  P.L.
				  2007, c. 245
				  (N.J.S.A.
				  34:1B-5.1), N.J.A.C. 19:30-4, and
				  19:31U-1.3(b)8 shall apply to construction work at the qualified business
				  facility by the business or construction work incurred on behalf of the
				  business by the landlord, as follows:
1.
				  Construction contracts for work performed 24 months prior to the eligibility
				  period pursuant to
				  N.J.S.A.
				  34:1B-5.1(b); and
2. Construction contracts for work undertaken
				  in connection with financial assistance received under the program. In
				  accordance with section 1 at P.L. 1979, c. 303 (N.J.S.A.
				  34:1B-5.1), nothing in this paragraph shall
				  be construed as requiring the payment of prevailing wage for construction
				  commencing more than two years after the Authority has issued the first
				  certificate of compliance.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.17 - Appeals

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board's
				  action shall be effective 10 business days after the Governor's receipt of the
				  minutes, provided neither an early approval nor veto has been issued.
(b) An applicant may appeal the Board's
				  action by submitting in writing to the Authority, within 20 calendar days from
				  the effective date of the Board's action, an explanation as to how the
				  applicant has met the program criteria. Such appeals are not contested cases
				  subject to the requirements of the Administrative Procedure Act,
				  N.J.S.A.
				  52:14B-1 et seq., and 52:14F-1 et seq., and
				  the Uniform Administrative Procedure Rules, N.J.A.C. 1:1.
(c) Appeals that are timely submitted shall
				  be handled by the Authority as follows:
1.
				  The Chief Executive Officer shall designate an employee of the Authority to
				  serve as a hearing officer for the appeal and to make a recommendation on the
				  merits of the appeal to the Board. The hearing officer shall perform a review
				  of the written record and may require an in-person hearing. The hearing officer
				  has sole discretion to determine if an in-person hearing is necessary to reach
				  an informed decision on the appeal. The Authority may consider new evidence or
				  information that would demonstrate that the applicant meets all of the
				  application criteria.
2. Following
				  completion of the record review and/or in-person hearing, as applicable, the
				  hearing officer shall issue a written report to the Board containing his or her
				  finding(s) and recommendation(s) on the merits of the appeal. The hearing
				  officer's report shall be advisory in nature. After reviewing the report, the
				  Chief Executive Officer of the Authority may also include a recommendation to
				  the written report of the hearing officer. The applicant shall receive a copy
				  of the written report of the hearing officer, which shall include the
				  recommendation of the Chief Executive Officer, if any, and shall have the
				  opportunity to file written comments and exceptions to the hearing officer's
				  report within five business days from receipt of such report.
3. The Board shall consider the hearing
				  officer's report, the recommendation of the Chief Executive Officer, if any,
				  and any written comments and exceptions timely submitted by the applicant.
				  Based on that review, the Board shall issue a final decision on the
				  appeal.
4. Final decisions rendered
				  by the Board shall be appealable to the Superior Court, Appellate Division, in
				  accordance with the Rules Governing the Courts of the State of New
				  Jersey.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.18 - Recovery Infrastructure Fund

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
				  The Authority shall establish a dedicated fund to be known as the Recovery
				  Infrastructure Fund. Money in the fund shall be dedicated to the purpose of
				  funding local infrastructure, which shall include:
1. Buildings and structures, such as schools,
				  fire houses, police stations, recreation centers, public works garages, and
				  water and sewer treatment and pumping facilities;
2. Sidewalks, streets, roads, ramps, and jug
				  handles;
3. Open space with
				  improvements, such as athletic fields, playgrounds, and planned
				  parks;
4. Open space without
				  improvements;
5. Public
				  transportation facilities, such as train stations and public parking
				  facilities; and
6. The purchase of
				  equipment considered vital to public safety.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.19 - Reports on implementation of program

Current through Register Vol. 56, No. 14, July 15, 2024
Beginning in 2022 and every two years thereafter, a State
					 college or university shall, pursuant to an agreement executed between the
					 State college or university and the Authority, prepare a report on the
					 implementation of the program, and submit the report to the Authority, the
					 Governor, and, pursuant to section 2 of P.L. 1991, c. 164 (N.J.S.A.
					 52:14-19.1), the Legislature. Each biennial
					 report required pursuant to this section shall include a description of each
					 eligible business receiving a tax credit under the program, a detailed analysis
					 of the consideration given to each applicant, an analysis of whether the
					 incentives awarded influenced the eligible business's decisions to locate a
					 qualified business facility in the State, the return on investment for
					 incentives awarded, the eligible business's impact on the State's economy, and
					 any other metrics the State college determines are relevant based upon national
					 best practices. The Authority shall prepare a written response to the report,
					 which the Authority shall submit to the Governor and, pursuant to section 2 of
					 P.L. 1991, c. 164 (N.J.S.A. 52:14-19.1), to the
					 Legislature.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31U - EMERGE › Subchapter 1 - EMERGE › Section 19:31U-1.20 - Severability

Current through Register Vol. 56, No. 14, July 15, 2024
If any section, subsection, provision, clause, or portion
					 of this subchapter is adjudged to be unconstitutional or invalid by a court of
					 competent jurisdiction, the remaining portions of this subchapter shall not be
					 affected thereby.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31V - ASPIRE PROGRAM RULES › Subchapter 1 - ASPIRE › Section 19:31V-1.1 - Applicability and scope

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The
				  rules in this subchapter are promulgated by the New Jersey Economic Development
				  Authority ("NJEDA" or "Authority") to implement the provisions of the New
				  Jersey Economic Recovery Act of 2020 establishing the New Jersey Aspire Program
				  Act (Act), sections 54 through 67 at
				  P.L.
				  2020, c. 156, as
				  amended at P.L. 2021, c.
				  160, and
				  P.L.
				  2023, c. 98
				  (N.J.S.A.
				  34:1B-322 through
				  34:1B-335) and shall apply to all
				  Program applications completed after the effective date of
				  P.L.
				  2023, c. 98 (July 6,
				  2023); except that in accordance with section 14(b) at
				  P.L.
				  2023, c. 98, a
				  developer that has submitted a completed application for a residential project
				  and obtains all applicable approvals pursuant to the Municipal Land Use Law,
				  N.J.S.A.
				  40:55D-1 et seq., for the project prior to
				  November 4, 2023, and submits written notice to the Authority before the
				  Authority's decision on the application, may proceed pursuant to the reasonable
				  and appropriate return on investment definition, as amended by section 1 at
				  P.L.
				  2023, c. 98
				  (N.J.S.A.
				  34:1B-323), the tax credit award limits, as
				  amended by subsection b of section 7 at
				  P.L.
				  2023, c. 98
				  (N.J.S.A.
				  34:1B-329) and subsection g of Section 9 at
				  P.L.
				  2023, c. 98
				  (N.J.S.A.
				  34:1B-333), and the rules and statute in
				  effect prior to July 6, 2023.
(b)
				  Pursuant to the Act, the Authority shall administer the Program, including the
				  establishment and administration of affordability controls that apply to the
				  residential units constructed for occupancy by low- and moderate-income
				  households pursuant to the Program, to encourage redevelopment projects through
				  the provision of tax credit awards to reimburse developers for certain project
				  financing gap costs. The requirement to reserve certain units for low- and
				  moderate-income households and the affordability controls for all restricted
				  units in redevelopment projects set forth in this subchapter apply solely as a
				  requirement of this Program and do not replace or supersede any obligation
				  pursuant to any other rule, regulation, law, or legal requirement. The
				  Authority Board may approve the award of a tax credit award to a developer upon
				  application to the Authority pursuant to
				  N.J.S.A.
				  34:1B-326 and 327. The value of all tax
				  credits approved by the Authority pursuant to the Act shall be subject to the
				  limitations set forth at
				  N.J.S.A.
				  34:1B-362.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31V - ASPIRE PROGRAM RULES › Subchapter 1 - ASPIRE › Section 19:31V-1.5 - Fees

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A developer
				  applying for benefits pursuant to the Program shall submit a one-time
				  non-refundable application fee. The application fee shall be as follows:
1. For projects utilizing tax credits
				  pursuant to the Federal Low-Income Housing Tax Credit Program and that consist
				  solely of units that are reserved for low- and moderate-income households, the
				  fee shall be $ 10,000;
2. For
				  projects not subject to (a)1 above, with total project cost of $ 50 million or
				  less, the fee shall be $ 30,000. For other projects not subject to (a)1 above,
				  the fee shall be $ 50,000 without phases and $ 75,000 with phases;
				  and
3. For transformative projects,
				  the fee shall be $ 100,000 for each phase included in the proposed
				  project.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31V - ASPIRE PROGRAM RULES › Subchapter 1 - ASPIRE › Section 19:31V-1.6 - Financing gap and fiscal impact analysis

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Authority shall review the proposed
				  total development cost and evaluate and validate the project financing gap
				  estimated by each developer applying for an incentive award, as follows:
1. The Authority shall evaluate the proposed
				  total redevelopment costs to develop, and the components of the redevelopment
				  project against reasonable market costs and components of comparable
				  projects;
2. The Authority shall
				  determine if the developer's submitted financial information for the project
				  and, if applicable, all phases, is satisfactory. If satisfactory, the Authority
				  shall incorporate the financial information in the project financing gap,
				  including the reasonable and appropriate return on investment; and
3. The project financing gap analysis shall
				  include, but not be limited to, an evaluation of the total development cost,
				  amount of capital sufficient to complete the project, proposed rental rates,
				  vacancy rates, reasonable and appropriate return on investment, and, in the
				  Authority's sole discretion, a comparison to alternative financing structures
				  for a comparable project available to the developer or its
				  tenants.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31V - ASPIRE PROGRAM RULES › Subchapter 1 - ASPIRE › Section 19:31V-1.7 - Approval of completed application; tax credit amounts

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Prior to March 1, 2029, for redevelopment
				  projects eligible pursuant to
				  N.J.S.A.
				  34:1B-325 and this subchapter, the Authority
				  shall award incentive awards based on the order in which complete, qualifying
				  applications are received by the Authority. If interest in the Program so
				  warrants, at the Authority's discretion, and upon notice, the Authority may
				  institute a competitive application process whereby all completed applications
				  submitted by a date certain will be evaluated as if submitted on that date. The
				  review will determine whether the applicant:
1. Complies with the eligibility
				  criteria;
2. Satisfies the
				  submission requirements; and
3.
				  Provides adequate information for the subject application.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31V - ASPIRE PROGRAM RULES › Subchapter 1 - ASPIRE › Section 19:31V-1.10 - Reduction, forfeiture, and recapture of tax credits

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The developer and any co-applicant shall
				  forfeit all credits for the tax period in which the change occurs and each
				  subsequent tax period and may be subject to recapture, if:
1. The developer changes a project that has
				  been approved based on certain eligibility requirements on size and uses,
				  including, but not limited to, the predominance of commercial, residential, or
				  film productions uses, and the redevelopment project changes such that the
				  eligibility requirements are no longer met;
2. Absent prior written approval of a
				  modification by the Authority, the developer changes any characteristic of the
				  redevelopment project, including, but not limited to, uses, that were utilized
				  to determine the net positive economic benefit pursuant to N.J.A.C.
				  19:31V-1.6(b) and 1.11(l) or of a transformative project that was utilized to
				  determine the anticipated employee occupancy pursuant to N.J.A.C.
				  19:31V-1.11(a)4i(1);
3. The
				  developer changes the project, so that the project would score less than the
				  minimum score pursuant to N.J.A.C. 19:31V-1.7(c); or
4. If, upon review of the certification and
				  documentation for any phase of a transformative project, the project has been
				  modified such that it no longer qualifies as a transformative
				  project.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31V - ASPIRE PROGRAM RULES › Subchapter 1 - ASPIRE › Section 19:31V-1.14 - Affirmative action and prevailing wage

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Authority's affirmative action
				  requirements at
				  N.J.S.A.
				  34:1B-5.4 and N.J.A.C. 19:30-3 and
				  19:31V-1.3(a)7 shall apply to the redevelopment project, including, but not
				  limited to, construction contracts for work performed before the application
				  and after November 15, 2021, and included in the project cost. The affirmative
				  action requirements shall apply for two years after the first certificate of
				  compliance is issued.
(b) The
				  Authority's prevailing wage requirements at
				  N.J.S.A.
				  34:1B-5.1 and N.J.A.C. 19:30-4 and
				  19:31V-1.3(a)8 shall apply to the redevelopment project, including, but not
				  limited to, the following:
1. Construction
				  contracts for work performed before the application and included in the project
				  cost;
2. Construction contracts for
				  work performed 24 months prior to the eligibility period pursuant to
				  N.J.S.A.
				  34:1B-5.1(b); and
3. Construction contracts for work performed
				  during the eligibility period.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31V - ASPIRE PROGRAM RULES › Subchapter 1 - ASPIRE › Section 19:31V-1.15 - Affordability controls: documentation and monitoring

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Developers and any subsequent owner of
				  the affordable development shall retain all documentation and evidence
				  necessary to demonstrate compliance with the affordability controls for the
				  duration of the deed restriction set forth at N.J.A.C. 19:31V-1.18 and shall
				  provide such documentation and evidence as set forth in this subchapter or at
				  the request of the Agency or the Authority.
(b) As set forth in this subchapter, the
				  Agency may serve as a monitoring entity acting to report to the Authority
				  compliance with the affordability controls. Notwithstanding such monitoring by
				  the Agency, enforcement of any and all requirements pursuant to this subchapter
				  shall be the responsibility of the Authority.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31V - ASPIRE PROGRAM RULES › Subchapter 1 - ASPIRE › Section 19:31V-1.16 - Affordability controls: affordability average; bedroom distribution

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In each
				  affordable development, at least 50 percent of the restricted units within each
				  bedroom distribution shall be low-income units and the remainder may be
				  moderate-income units, provided that at least 10 percent of the restricted
				  units shall be very low-income units.
(b) The bedroom distribution for restricted
				  units that are not age-restricted shall be as follows:
1. The combined number of studios and
				  one-bedroom units is no greater than 20 percent of all restricted
				  units;
2. At least 30 percent of
				  all restricted units are two-bedroom units;
3. At least 20 percent of all restricted
				  units are three-bedroom units; and
4. The remainder, if any, may be allocated at
				  the discretion of the developer or subsequent owner of the affordable
				  development.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31V - ASPIRE PROGRAM RULES › Subchapter 1 - ASPIRE › Section 19:31V-1.17 - Affordability controls: occupancy standards

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In determining the initial rents for
				  compliance with the affordability average requirements for restricted units,
				  the following standards shall be used:
1. A
				  studio shall be affordable to a one-person household;
2. A one-bedroom unit shall be affordable to
				  a one and one-half person household;
3. A two-bedroom unit shall be affordable to
				  a three-person household;
4. A
				  three-bedroom unit shall be affordable to a four and one-half person household;
				  and
5. A four-bedroom unit shall be
				  affordable to a six-person household.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31V - ASPIRE PROGRAM RULES › Subchapter 1 - ASPIRE › Section 19:31V-1.18 - Affordability controls: control periods for rental units

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each restricted rental unit shall remain
				  subject to the requirements of the affordability controls for a period of 45
				  years.
(b) The affordability
				  control period for the restricted units shall commence on the first date that a
				  low- or moderate-income household occupies a unit and shall terminate at the
				  end of the period set forth at (a) above, except that the eviction or
				  termination of tenancy (other than for good cause) of an existing tenant of any
				  restricted unit or the increase in the gross rent with respect to any
				  restricted unit not otherwise authorized pursuant to this subchapter shall be
				  prohibited for an additional three years.
(c) Deeds of all real property that include
				  restricted rental units shall contain deed restriction language as prescribed
				  by the Authority. The deed restriction shall for the period set forth at (a)
				  above, require compliance with the affordability controls, prohibit the sale or
				  transfer of individual restricted units unless without the prior written
				  consent of the Authority, and shall grant the Authority the rights set forth at
				  N.J.A.C. 19:31V-1.10. The deed restriction shall have priority over all
				  mortgages on the property.
(d) A
				  restricted unit shall remain subject to the affordability controls despite the
				  occurrence of any of the following events:
1.
				  A sale or other voluntary transfer of the ownership of the affordable
				  development or the restricted unit; or
2. The entry and enforcement of any judgment
				  of foreclosure on the affordable development or the restricted
				  unit.