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The Greater Atlantic City Chamber would like to thank the following sponsors:
Neighborhood Revitalization State Tax Credit Act
The NRSTCA allows for businesses to contribute to housing and economic development activities, as well as other neighborhood preservation and revitalization projects, and, in return, receive credit against certain state taxes.
The Senate bill (S2688) names five agencies as regional planning entities, including the Casino Reinvestment Development Authority. Each of the regional planning entities would be empowered to designate up to two additional municipalities as areas within the state that would be eligible for such plans. Previous criteria associated with the NRSTCA precluded Atlantic City from being eligible for such plans.
The Assembly bill (A3598), which has been referred to the Assembly Housing and Local Government Committee, would extend program eligibility to areas located in municipalities in which casino gaming is authorized.
The Chamber commends Senator Whelan and Assemblymen Amodeo and Polistina for their leadership on this issue and strongly supports this legislation.
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