A4697 • 2026

Makes FY2026 supplemental appropriation of $30 million to DCA for Neighborhood Revitalization Tax Credit program.

Budget Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Reynolds-Jackson, Verlina
Last action: 2026-03-16
Official status: Introduced, Referred to Assembly Community Development and Women's Affairs Committee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Makes FY2026 supplemental appropriation of $30 million to DCA for Neighborhood Revitalization Tax Credit program.

What This Bill Does

Makes FY2026 supplemental appropriation of $30 million to DCA for Neighborhood Revitalization Tax Credit program.
Topic: Community Development and Women's Affairs Fiscal note: This bill has not been certified by OLS for a fiscal note.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-03-16 New Jersey Legislature
Introduced, Referred to Assembly Community Development and Women's Affairs Committee

Official Summary Text

Makes FY2026 supplemental appropriation of $30 million to DCA for Neighborhood Revitalization Tax Credit program.
Topic:
Community Development and Women's Affairs
Fiscal note:
This bill has not been certified by OLS for a fiscal note.

Current Bill Text

Read the full stored bill text

A4697

ASSEMBLY, No. 4697

STATE OF NEW JERSEY

222nd LEGISLATURE

�

INTRODUCED MARCH 16, 2026

Sponsored by:

Assemblywoman� VERLINA REYNOLDS-JACKSON

District 15 (Hunterdon and Mercer)

Assemblyman� JOE DANIELSEN

District 17 (Middlesex and Somerset)

Assemblywoman� MAUREEN ROWAN

District 2 (Atlantic)

Co-Sponsored by:

Assemblywoman Brennan

SYNOPSIS

���� Makes FY2026 supplemental appropriation of $30
million to DCA for Neighborhood Revitalization Tax Credit program.

CURRENT VERSION OF TEXT

���� As introduced.

��

A
Supplement
to the annual appropriations act
for the fiscal year ending June 30, 2026, P.L.2025, c.74.

����
Be It
Enacted
by the Senate and the General Assembly
of the State of New Jersey:

���� 1.� In addition to the amounts
appropriated under P.L.2025, c.74, the annual appropriations act for the fiscal
year ending June 30, 2026, there is appropriated from the General Fund the
following amount for the purpose specified:

22 DEPARTMENT OF COMMUNITY AFFAIRS

40 Community Development and
Environmental Management

41 Community Development Management

GRANTS-IN-AID

02-8020� Housing Services................................................
$30,000,000

���������������� Total
Grants-in-Aid Appropriation,��������������������������������������

������������������ Community
Development Management .......
$30,000,000

Grants-in-Aid:

�������� 02��� Neighborhood
Revitalization

���������������� �� Tax
Credit Program.......................... ($30,000,000)

���� 2.� This act shall take effect
immediately.

STATEMENT

���� This bill appropriates an
additional $30 million from the General Fund to the Department of Community
Affairs (DCA) for the Neighborhood Revitalization Tax Credit program.� The
program provides grants to community nonprofit organizations that, under revitalization
plans approved by the DCA, invest in local improvements to benefit low and
moderate income neighborhoods.

���� The regular program is funded
by business entities that provide funding for qualified projects, and thereby
earn tax credits. �This bill would provide $30,000,000 to support these
neighborhood revitalization projects.