NJ Assembly Votes To Lift Nonresidential Developer Fee

Law360, New York (December 19, 2013, 8:22 PM EST) -- The New Jersey General Assembly on Thursday passed a bill to place a moratorium on a fee for commercial developers, legislation designed to drive nonresidential construction projects at the expense of affordable-housing funds currently in limbo.

The state Assembly unanimously passed A-4457, which would reinstate a moratorium on a 2.5 percent fee charged to developers of nonresidential construction projects. If passed, the legislation would freeze the fee until January 2015. The fee goes directly to the state’s affordable-housing funds, which remain in limbo while state officials...
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