Bill Text: NJ A2688 | 2016-2017 | Regular Session | Introduced

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Bill Title: Exempts person who remediates property in environmental opportunity zone from remediation funding source requirement.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2016-11-21 - Substituted by S909 [A2688 Detail]

Download: New_Jersey-2016-A2688-Introduced.html

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ASSEMBLY, No. 2688

STATE OF NEW JERSEY

217th LEGISLATURE

 

INTRODUCED FEBRUARY 8, 2016

 

 

Sponsored by:

Assemblywoman  L. GRACE SPENCER

District 29 (Essex)

 

 

 

 

SYNOPSIS

     Exempts person who remediates property in environmental opportunity zone from remediation funding source requirement.

 

CURRENT VERSION OF TEXT

     As introduced.

  

An Act concerning the remediation of property in an environmental opportunity zone, and amending P.L.1995, c.413.

 

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

 

     1.  Section 9 of P.L.1995, c.413 (C.54:4-3.158) is amended to read as follows:

     9.  a.  The Department of Environmental Protection shall take final action on a technically complete remedial action workplan, submitted for a remediation in an environmental opportunity zone for which an exemption from real property taxes has been granted pursuant to section 5 of P.L.1995, c.413 (C.54:4-3.154), within 45 days of receipt of the submission in the case of soil remediations, and within 90 days of receipt of the submission in the case of remediations involving groundwater or surface water.

     b.    Any owner or operator of an environmental opportunity zone for which an exemption from real property taxes has been granted pursuant to section 5 of P.L.1995, c.413 (C.54:4-3.154) shall be exempt from the requirement to establish a remediation funding source pursuant to section 25 of P.L.1993, c.139 (C.58:10B-3).

     c.  Any owner or operator of property within an environmental opportunity zone who does not apply for an exemption from real property taxes and who undertakes a remediation of the property shall be exempt from the requirement to establish a remediation funding source pursuant to section 25 of PL.1993, c.139 (C.58:10B-3).

(cf:  P.L.1995, c.413, s.9)

 

     2.  This act shall take effect immediately.

 

 

STATEMENT

 

     This bill would provide that any property owner or operator who undertakes the remediation of property that is located in a designated environmental opportunity zone would be exempt from the requirement to establish a remediation funding source even if the owner or operator of the property does not apply for an exemption from real property taxes.