N.J. Admin. Code § 5:47-6.3

Current through Register Vol. 57, No. 1, January 6, 2025

Section 5:47-6.3 - Certificate

The Department shall issue the business entity a certificate for neighborhood revitalization tax credits in the amount previously determined. The Department shall issue up to $ 10,000,000 in certificates in each fiscal year, notwithstanding the dollar amount of assistance requested in projects submitted to and approved by the Department. Any funds received in any fiscal year in excess of the amount allocated to qualified projects shall be allocated by the Department to qualified projects in any subsequent fiscal year in which the dollar amount sought by qualified projects exceeds the amount of assistance available.