Delay On NJ Tax Incentive Bill Hampering Real Estate Deals

By Kaitlin Ugolik (July 24, 2013, 7:17 PM EDT) -- The New Jersey Senate's failure to take up a controversial corporate tax incentive bill before adjourning for the summer recess could have serious consequences for the state's commercial real estate industry, according to attorneys who say some deals have been left in limbo.

A3680, also known as the New Jersey Economic Opportunity Act of 2013, creates new incentives and extends existing incentive programs to small- and medium-sized businesses as well as developers of multifamily residential projects, which aren't eligible under current incentive programs.

The Assembly passed the bill at the end of June, following a recess during which it amended the language...

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