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S3116 • 2026

Extends deadline for submission of temporary certificate of occupancy for certain qualified residential projects or mixed-use parking projects under Economic Redevelopment and Growth Grant program to June 30, 2032.

Extends deadline for submission of temporary certificate of occupancy for certain qualified residential projects or mixed-use parking projects under Economic Redevelopment and Growth Grant program to June 30, 2032.

Budget
Passed Legislature

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

Sponsor
Wimberly, Benjie E.
Last action
2026-06-30
Official status
Substituted by A4525
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.

Extends deadline for submission of temporary certificate of occupancy for certain qualified residential projects or mixed-use parking projects under Economic Redevelopment and Growth Grant program to June 30, 2032.

Extends deadline for submission of temporary certificate of occupancy for certain qualified residential projects or mixed-use parking projects under Economic Redevelopment and Growth Grant program to June 30, 2032.

What This Bill Does

  • Extends deadline for submission of temporary certificate of occupancy for certain qualified residential projects or mixed-use parking projects under Economic Redevelopment and Growth Grant program to June 30, 2032.
  • Topic: Substituted by another Bill Fiscal note: This bill has 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

  1. 2026-06-30 New Jersey Legislature

    Substituted by A4525

  2. 2026-06-24 New Jersey Legislature

    Reported from Senate Committee, 2nd Reading

  3. 2026-06-08 New Jersey Legislature

    Reported from Senate Committee, 2nd Reading

  4. 2026-06-08 New Jersey Legislature

    Referred to Senate Budget and Appropriations Committee

  5. 2026-01-13 New Jersey Legislature

    Introduced in the Senate, Referred to Senate Economic Growth Committee

Official Summary Text

Extends deadline for submission of temporary certificate of occupancy for certain qualified residential projects or mixed-use parking projects under Economic Redevelopment and Growth Grant program to June 30, 2032.
Topic:
Substituted by another Bill
Fiscal note:
This bill has been certified by OLS for a fiscal note.

Current Bill Text

Read the full stored bill text 
S3116 FISCAL ESTIMATE

LEGISLATIVE FISCAL ESTIMATE

SENATE, No. 3116

STATE OF NEW JERSEY

222nd LEGISLATURE

DATED: JUNE 25, 2026

SUMMARY

Synopsis:

Extends deadline for submission of temporary certificate
of occupancy for certain qualified residential projects or mixed-use parking
projects under Economic Redevelopment and Growth Grant program to June 30,
2032.

Type of Impact:

Multi-year State revenue decrease.

Agencies Affected:

New Jersey Economic Development Authority.

Office of
Legislative Services Estimate

Fiscal Impact

Multi-Year Lifespan of Incentive Awards

State Revenue
Decrease

Indeterminate

�

The Office of Legislative Services (OLS) finds that the bill may
result in an indeterminate decrease in State revenues.� The Economic
Redevelopment and Growth Grant program is administered by the New Jersey
Economic Development Authority.

�

The bill extends the deadline for a developer to submit a
temporary certificate of occupancy for certain qualified projects from June 30,
2028 to June 30, 2032.� This four-year deadline extension may allow developers
to receive larger incentive grants or tax credit awards over a longer period of
time, resulting in an additional State revenue loss.

BILL DESCRIPTION

����� The bill extends the deadline for a developer to
submit a temporary certificate of occupancy for certain qualified residential
projects or mixed-use parking projects to June 30, 2032.� Under current law,
the deadline to submit this documentation is June 30, 2028.� The bill also
extends the deadline for a municipal redeveloper to submit a temporary
certificate of occupancy for certain proposed mixed use parking projects to
June 30, 2032.� Under current law, the deadline to submit this documentation is
June 30, 2028.

FISCAL ANALYSIS

EXECUTIVE BRANCH

����� None received.

OFFICE OF LEGISLATIVE SERVICES

����� The OLS finds that the bill may result in an
indeterminate multi-year State revenue loss by extending the deadline for a
developer to submit a temporary certificate of occupancy for certain qualified
projects to June 30, 2032. Through the Economic Redevelopment and Growth Grant
program, the authority awards incentive grants or tax credits for a portion of
project costs incurred in connection with the redevelopment project by a
developer until the issuance of a permanent certificate of occupancy. Extending
the deadline for the submission of a temporary certificate of occupancy may
allow additional project costs to be counted in the calculation of the
incentive grant or tax credit award.

Section:

Revenue, Finance, and Appropriations

Analyst:

Humphrey Akujobi

Assistant Fiscal Analyst

Approved:

Thomas Koenig

Legislative Budget and Finance Officer

This legislative fiscal estimate has been produced by the
Office of Legislative Services due to the failure of the Executive Branch to
respond to our request for a fiscal note.

This fiscal estimate has been prepared pursuant to P.L.1980,
c.67 (C.52:13B-6 et seq.).