Bill Title: Amends the River Edge Redevelopment Zone Act. Provides that the incremental income tax attributable to a new employee of an individual, partnership, corporation, or other entity that develops within certain specified river edge redevelopment zones shall be deposited into the Riverfront Development Fund. Provides that moneys in the Fund shall be used by the Department of Commerce and Economic Opportunity to make grants to eligible developers for infrastructure improvements. Sets limits on the grants. Amends the State Finance Act to create the Riverfront Development Fund. Effective immediately.

Spectrum: Moderate Partisan Bill (Democrat 6-1)

Status: (Passed) 2013-08-27 - Public Act . . . . . . . . . 98-0564 [SB1409 Detail]

Text: Latest bill text (Chaptered) [HTML]

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