Bill Title: Amends the River Edge Redevelopment Zone Act. Provides that a public utility may receive a deduction against income subject to State taxes for a contribution to a designated zone organization for costs of installing, replacing, modifying, removing, improving, or maintaining any substation facility located within the River Edge Redevelopment Zone if the project for which the contribution is made has been specifically approved by the designating municipality and by the Department of Commerce and Economic Opportunity. Provides that a public utility may amortize the cost of installing, replacing, modifying, improving, removing, or maintaining its facilities located within the River Edge Redevelopment Zone across all customers in the State if the project for which the contribution is made has been specifically approved by the designating municipality and by the Department of Commerce and Economic Opportunity.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-02-05 - Referred to Rules Committee [HB5346 Detail]

Text: Latest bill text (Introduced) [HTML]

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