New Jersey § 34:1b-319
Full text of New Jersey New Jersey Statutes § 34:1b-319, with citation guidance and answers to common questions.
§ 34:1b-319.
a. Up to the limits established in subsection b. of this section and in accordance
with a tax credit agreement, beginning upon the receipt of occupancy permits for any
portion of the community-anchored project, or upon any other event evidencing project
completion as set forth in the tax credit agreement, an anchor institution and, if
applicable, each partner institution of an approved community-anchored project shall
be awarded a base tax credit of $5,000,000 for conversion into an authority investment
in the community-anchored project. b. An anchor institution and, if applicable, each partner institution may be allowed
a tax credit in excess of the base amount, if approved by the authority, provided,
however, the total tax credit allowed per community-anchored project shall not exceed
$75,000,000 and the total investment of all State resources not including rent payments
in a community-anchored project shall not exceed 40 percent of the total cost of the
project.
Frequently Asked Questions About New Jersey § 34:1b-319
What does New Jersey Statutes § 34:1b-319 cover?
Section 34:1b-319 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-319?
A common citation format is "New Jersey Statutes § 34:1b-319" (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-319 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.