N.J.S.A. 34:1B-335.3 — Approved projects, certain requirements.

34:1B-335.3 Approved projects, certain requirements. 10. a. Notwithstanding any provision of P.L.2020, c.156 (C.34:1B-269 et al.), section 14 of P.L.2023, c.98 (C.34:1B-335.1), or any provision of law to the contrary, any project approved by the authority after the effective date of P.L.2020, c.156 (C.34:1B-269 et al.) shall be subject to: (1) the requirements of subsection f. of section 57 of P.L.2020, c.156 (C.34:1B-325), as amended by P.L.2025, c.2 (C.34:1B-335.3 et al.), concerning the average occupancy rate of commercial projects; (2) any lower fees promulgated by the authority on or after the effective date of P.L.2025, c.2 (C.34:1B-335.3 et al.), except that such lower fees shall not apply to any fees already paid to the authority; (3) the requirements of paragraphs (1) and (4) of subsection f. of section 60 of P.L. 2020, c.156 (C.34:1B-328), as amended by P.L.2025, c.2 (C.34:1B-335.3 et al.), concerning the execution of community benefits agreements; (4) the requirements of subsection b. of section 62 of P.L.2020, c.156 (C.34:1B-330), as amended by P.L.2025, c.2 (C.34:1B-335.3 et al.); (5) the requirements of subsection a. of section 63 of P.L.2020, c.156 (C.34:1B-331), as amended by P.L.2025, c.2 (C.34:1B-335.3 et al.); (6) the provisions of subsection b. and subsection c. of section 60 of P.L.2020, c.156 (C.34:1B-328), as amended by P.L.2025, c.2 (C.34:1B-335.3 et al.); and (7) any other provision concerning the terms and conditions of an incentive award issued under the New Jersey Aspire Program that the authority determines will make the administration of the program consistent with the provisions of the "New Jersey Aspire Program Act," sections 54 through 67 of P.L.2020, c.156 (C.34:1B-322 through C.34:1B-335), as amended and supplemented by P.L.2025, c.2 (C.34:1B-335.3 et al.), provided that such provision shall not have a materially adverse impact on any projects approved by the authority before the effective date of P.L.2025, c.2 (C.34:1B-335.3 et al.). b. Notwithstanding any provision of P.L.2020, c.156 (C.34:1B-269 et al.), section 14 of P.L.2023, c.98 (C.34:1B-335.1), or any other provision of law to the contrary, any project approved by the authority after the effective date of P.L.2020, c.156 (C.34:1B-269 et al.) shall not be subject to any proration of tax credits for any year of the eligibility period. L.2025, c.2, s.10.

This is the verbatim text of N.J.S.A. 34:1B-335.3, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.