Revises certain eligibility requirements under NJ Aspire Program; establishes net neutral benefits test for redevelopment projects that incur certain sustainability and resiliency costs.

S 2916 updates eligibility rules for New Jersey's Aspire Program, which provides tax credits to support economic development. It specifically affects developers of large commercial projects (100,000+ square feet) in designated areas, including "distressed" or "enhanced" municipalities. The bill requires such projects to undergo a "net neutral benefits test" if they incur sustainability or resiliency costs (e.g., for green buildings), ensuring these expenses don't reduce overall community benefits like affordable housing or local hiring. This test must verify that project costs don't diminish the net positive impact on the community compared to a non-sustainable approach.