A state tax credit program is helping Atlantic City's neighborhoods. A Senate bill would add $50M to the program.
Neighborhood revitalization projects like those occurring in Atlantic City and Camden’s distressed neighborhoods could get a boost under a bill that would increase funding for the state’s Neighborhood Revitalization Tax Credit program by $50 million annually.
Senate Bill 3170 passed the Senate Community and Urban Affairs Committee unanimously in early December and awaits review by the Senate Budget and Appropriations Committee.
The bill would expand the Neighborhood Revitalization Tax Credit program from an annual funding ceiling of $15 million to $65 million.