A-4534, which revises the definition of qualified assistance fund expenses under the Urban Enterprise Zone (UEZ) program to include costs of transportation infrastructure projects and related debt, was amended and released from the Assembly State and Local Government Committee.
As amended, the bill expands the use of “qualified assistance fund expense” in the UEZ program to include the improvement of public infrastructure in a commercial or transportation corridor and transportation infrastructure, including, but not limited to, payment of debt service related to the financing of a transportation project and the pledge of funds credited to assistance funds toward the repayment of any loan issued by State Transportation Infrastructure Bank or any government agency for transportation infrastructure projects. With the approval of the UEZ Authority, up to 75% of any assistance funds may be used to pay debt services or pledge towards the repayment of any loan for the cost of a transportation infrastructure project.
The bill defines a “transportation infrastructure” to include, but is not limited to:
- All public highways, roads, bridges, and streets in the state, whether maintained by the State or by any county, municipality, or other political subdivision; and
- Public transportation facilities used in connection with public transportation services, such as passenger stations, shelters and terminals, automobile and bus parking facilities, ramps, track connections, signal systems, power systems, information and communication systems, roadbeds, transit lanes or rights-of-way, equipment storage and servicing facilities, bridges, grade crossings, rail cars, locomotives, motorbuses and other motor vehicles, maintenance and garage facilities, revenue handling equipment and any other equipment, facility or property useful or related to the provision of public transportation service.
In addition, the bill defines “public transportation service” to include rail passenger service, motorbus regular route service, paratransit service, motorbus charter service, and ferry passenger service.
The amended bill, which the League supports, now awaits consideration of the full Assembly. The companion bill, S-3439, awaits the consideration of the Senate Economic Growth Committee.
Contact: Lori Buckelew, Deputy Executive Director & Director of Government Affairs, lbuckelew@njlm.org, 609-695-3481, x112.