HEARING BEING HELD ON CLOSURE OF UEZ

A public hearing will be held on the potential end of the Urban Enterprise Zones in New Jersey. State Senator Jeff Van Drew will chair the Senate Community and Urban Affairs Committee hearing. The spending plan proposes diverting all sales tax revenue collected in Urban Enterprise Zones, which historically has been reinvested in the community for public improvements and economic development projects, to balance the state budget. The State budget anticipates $94 million in revenue from the program in Fiscal Year 2012. In current Fiscal Year 2011, state officials expect to realize $89 million from the diversion.

Check Also

SEA ISLE CITY BUDGET CALLING FOR SLIGHT TAX INCREASE IN 2021

The municipal tax rate will go up this year in Sea Isle City.  Mayor Len …

Leave a Reply

Your email address will not be published. Required fields are marked *