Requires DCA to conduct study on local government use of financial agreements granting tax abatements and exemptions and accepting payments in lieu of taxation for redevelopment and rehabilitation.

This bill (S 4577) requires New Jersey's Department of Community Affairs (DCA) to study how municipalities use tax abatements and payments in lieu of taxes for redevelopment projects. The study will track the number of agreements, their terms, tax revenue impacts, payments received, redevelopment details, and involved parties over the past six fiscal years. Municipalities must provide requested data to DCA, and the commissioner must submit a final report with findings and recommendations to the Governor and Legislature within one year. The goal is to assess how effectively these existing tax tools (under two state laws) support revitalizing blighted areas while preserving local government flexibility.