Provides sales and use tax exemption for certain purchases made by certain common interest communities in UEZ.

Summary

The legislation creates a sales‑and‑use tax exemption for purchases made by common‑interest communities with at least 1,000 units that are located in New Jersey’s urban enterprise zones. It covers the cost of materials, supplies and services used to build, maintain, improve, alter, or repair the community’s real property, as well as the same purchases made by contractors hired by the community. The exemption is intended to boost development and upkeep of large housing complexes in designated growth areas.

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