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Assembly Environment Committee passes tax credit, GSPT bills

May 13, 2009

The New Jersey Assembly’s Environment Committee, on Monday, unanimously voted out the proposed historic preservation tax incentive (HPRA – A791), as well as the $600 million, 3-year bond referendum to (temporarily) replenish the Garden State Preservation Trust and NJ Historic Trust.  The latter bill, when adopted by the legislature, calls for a fall ballot measure to let the voters decide on the future of historic preservation and open space and farmland preservation.  Both bills will next have to be heard by the Assembly Appropriations Committee (Aswm. Nellie Pou, D–Paterson, chair) before reaching the Assembly floor.  In the Senate, the historic tax credit legislation has yet to be scheduled in the Wagering, Tourism & Historic Preservation Committee (Sen. Jim Whelan, D–Atlantic City, chair).  Sen Barbara Buono (D–Metuchen), is the HPRA prime sponsor.  Thanks to Asm. Reed Gusciora, D–Trenton, for his leadership as prime sponsor of the hsitoric rehab tax incentive legislation.

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