TRENTON, NJ-The Senate Budget and Assembly Appropriationscommittees yesterday approved the Urban Transit Hub Tax Credit Act,aimed at getting corporations to locate near New Jersey's majortransit hubs. A vote on the bill by both houses of the legislatureis now slated for Monday, the last day of the current legislativesession.
As reported by GlobeSt.com, what the bill would do, if passed,is provide taxcredits of up to $75 million to cover a variety of capitalexpenses for companies that create at least 200 jobs at a sitewithin a half-mile of designated transit stations. The creditswould be spread over 10 years.
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