Legislation to repeal the 2.5% non-residential development fee retroactive to July of 2010 was introduced yesterday. The bills are S-2974 (Lesniak/Sweeney) and A-4221 (Coutinho/Bucco/Burzichelli). There are only two sessions days (next Monday and Thursday) remaining before summer recess during which this legislation can be approved and sent to Governor Christie for consideration.
Commercial real estate professionals are encouraged to reach out to their State Senators and Assembly members today in support of these bills. For information on how to contact your legislators, click here.