N.J. Admin. Code § 19:31H-1.11
Current through Register Vol. 56, No. 12, June 17, 2024
The value of all credits approved by the Authority shall not exceed $ 1,500,000,000 of which the Authority may approve up to $ 150,000,000 in credits in the aggregate for residential developers making capital investments in qualified residential projects, provided that for each qualified residential facility, the residential developer shall be allowed tax credits of no more than 35 percent of its capital investment. Based on application and allocation activity and if sufficient credits are available, the Authority may direct that the $ 150,000,000 cap be exceeded for allocation to qualified residential projects, as is deemed reasonable, justified and appropriate.
N.J. Admin. Code § 19:31H-1.11
See: 42 N.J.R. 907(a), 42 N.J.R. 1902(a).
Former N.J.A.C. 19:31-9.11, Reporting requirements, recodified to N.J.A.C. 19:31-9.14.
Amended by R.2012 d.044, effective 2/21/2012.
See: 43 N.J.R. 2991(a), 44 N.J.R. 512(a).
Substituted "35" for "20".