New Jersey Assembly Bill A914

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Establishes additional municipal review processes and procedures related to development of certain large warehouses; requires certain real property revaluations and reassessments.

Impact

The bill mandates that if a municipality has not performed a comprehensive revaluation or reassessment of real property in the last five years prior to approving a large warehouse project, it must do so no later than 24 months following the issuance of the occupancy certificate for that warehouse. This provision aims to ensure that property values reflect the impact of new large warehouse developments in the municipality, potentially affecting local tax revenues and resource allocation.

Summary

Assembly Bill A914 seeks to establish additional municipal review processes and procedures for the development of certain large warehouses. Primarily, this bill introduces a requirement for municipalities to conduct a special reexamination of their master plans and development regulations before considering any application to construct a large warehouse. The bill specifies guidelines that the State Planning Commission must adopt to define large warehouses and outlines the implications for local planning and zoning regulations when such applications are submitted.

Contention

There may be contention surrounding this bill, particularly concerning the responsibilities placed on municipal planning boards. Critics may argue that the requirements for special reexaminations could add substantial time and cost to already complex development approval processes. Proponents are likely to contend that these measures are necessary to better manage urban planning and ensure that local regulations align with state guidelines for large-scale developments.

Summary_statement

In essence, A914 represents an effort to regulate the development of large warehouses more stringently while ensuring that municipalities remain proactive in managing changes in property taxation related to such developments. The full economic and regulatory implications will continue to be a topic of debate during the legislative process.