Housing (Economic Development)

This bill clarifies that property acquisition costs (such as buying land) can now be paid using funds from New Jersey's Urban Enterprise Zone (UEZ) assistance program. It amends the definition of "qualified assistance fund expense" to explicitly include purchasing, leasing, or acquiring land or property for eligible projects. The change affects businesses and municipalities in designated UEZs that use the assistance fund for development, making the fund's rules clearer without altering who qualifies or creating new programs.