New Jersey § 34:1b-279
Full text of New Jersey New Jersey Statutes § 34:1b-279, with citation guidance and answers to common questions.
§ 34:1b-279.
The Brownfields Redevelopment Incentive Program is established as a program under
the jurisdiction of the New Jersey Economic Development Authority. The purpose of the program is to compensate developers of redevelopment projects
located on brownfield sites for remediation costs. To implement this purpose, the authority shall issue tax credits. The total value of tax credits approved by the authority shall not exceed the limitations
set forth in section 98 of P.L.2020, c. 156 ( C.34:1B-362 ). For the purpose of determining the aggregate value of tax credits approved in a
fiscal year, a tax credit shall be deemed to have been approved at the time the authority
approves an application for an award of a tax credit. If the authority approves less than the total amount of tax credits authorized pursuant
to this section in a fiscal year, the remaining amount, plus any amounts remaining
from previous fiscal years, shall be added to the limit of subsequent fiscal years
until that amount of tax credits are claimed or allowed. Any unapproved, uncertified, or recaptured portion of tax credits during any fiscal
year may be carried over and reallocated in succeeding years.
Frequently Asked Questions About New Jersey § 34:1b-279
What does New Jersey Statutes § 34:1b-279 cover?
Section 34:1b-279 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 34:1b-279?
A common citation format is "New Jersey Statutes § 34:1b-279" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 34:1b-279 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.